ECB WEIDMANN: Short-term policy measures might harm Long-term stability

Market news

23 November 2012

ECB WEIDMANN: Short-term policy measures might harm Long-term stability

- 3-yearr tenders firmed feedback loop btw banks/states

- Must not overburden monetary policy

- Crisis blurred boundaries between monpol/fiscal pol

- Monpol intervention may delay governmnt reforms

- Control and liability must be kept in balance in EMU

- Bailouts have increased joint liability, not control

- Must target exaggerations before they threaten stab.

- Single supervisor can help prevent future crises

- Must risk-weight sovereign bonds in bank capital

- Should limit bank exposure to individual sovereigns

Before the bell: S&P futures +0.31%, Nasdaq futures +0.46%

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