ECB’s Stark: fiscal burden a daunting challenge
Jürgen Stark, a member of the European Central Bank's (ECB) Governing Board, on Thursday warned that high levels of government debt may also adversely impact monetary-policy operations.
Stark blamed the fiscal troubles in European countries on sizable fiscal stimulus packages and interventions to support the banking sector, as well as the sharp contraction in economic activity.
According to Stark, high levels of debt could push up inflation expectations and place an additional burden on monetary
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