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Weekly Economic PulseÀlex Ruiz
Members encourage the ECB, in response to the debt crisis, buy national bonds of euro zone countries, "thus following the long and proven practice of the Bank of England and the U.S. Federal Reserve."
The text states that the absence of a crisis management mechanism predefined and behavior of some governments have hampered a rapid solution to the sovereign debt crisis in some Member States of the euro area. The text recalls that while the aim of recovering the balance of public finances and reduce debt is necessary for states with excessive debt, this alone will not solve the problem of economic imbalances between the countries of the region euro.
The European Parliament notes that the measures the ECB has introduced since October 2008 in support of successful credit to avoid a deeper recession and further financial turmoil. However, he expressed concern about the "possible asymmetry of the impact of the ECB's exit strategy, in view of the substantial differences between the member states of the euro area". In this regard, the report calls on governments to coordinate their economic policies.