Greek central banker Yiannis Stournaras said the European Central Bank (EBC) was prepared to support the Eurozone, if necessary.

In an interview to financial newspaper Bloomberg, Stournaras, Greece’s central bank governor and member of the ECB’s board of directors, predicted that the independent central banks of Europe would adopt a more central role if political developments take a negative turn. “If there is more volatility, more uncertainty, more protectionism, we want to be an even stronger pillar of stability,” he said.“My biggest fear is that a year from now the political map of Europe might be different. If populism and nationalism gain ground, it will be dangerous. This will lead to a minimum of protectionism. I don’t even want to think about what the worst-case scenario could be,” he added.

For some reformers, this might constitute an argument for the ECB to keep the stimulus measures going for longer. “I think this kind of monetary policy will continue,” said Mr. Stournaras. “Whether it will continue at the same rate for a finite period or at a slower pace for a longer period remains to be seen. I suspect that there will be a plethora of choices when we meet. “

Source: Newmoney.gr