ECB's Papademos on policy-making in EMU

In the speech 'Policy-making in EMU: strategies, rules and discretion' given on 19 April Lucas Papademos of the ECB said there are many reasons for arguing that the ECB's strategy is well suited to the conduct of monetary policy in the euro area. One argument is that the ECB's strategy is rather robust allowing the ECB to make appropriate decisions in an uncertain and ever-changing environment.

The common challenge confronted by all central banks, he added, is to make decisions under conditions

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