Wim Duisenberg Quotes (26 Quotes)

I wish you had not asked me that question, the answer is no.

All available evidence is that a period of robust economic growth -- albeit at a somewhat slower pace than we have seen in recent months -- still lies ahead of us as far as we can see for the foreseeable future,

Economic activity in the euro area is determined mainly by domestic factors, ... Growth is very likely to continue at a reasonably robust pace.

So we do expect to maintain a growth rate in the euro area of at least 3 percent per year for the next two years.

Wages, import prices, bottlenecks in shortages in the employment market

Of most concern are some of the uncertainties that will inevitably arise as the result of the move to stage three. Against this background, the council has chosen a distinct monetary policy strategy and one that reflects the circumstances it faces at present.

I'm not going to answer any questions relating to that recent interview,

The depreciation of the exchange rate of the euro will increase the risks to price stability, ... In the medium term these risks have to be taken seriously, and we are taking them seriously in light of the current exchange rate.

We are not immune to developments in the United States and the world at large,

At the end of the year, economic growth should reach a level close to potential growth,

This internal stability of the euro means that people can be confident that their savings and pensions will keep their value over time,

To them, I would like to say the following I understand their concerns, since a persistently lower euro exchange rate might ultimately lead to higher prices in the shops,

An inappropriately lax monetary policy would not create better conditions for the emergence of a new economy

Not having an exchange rate policy -- and we do not have one -- does not mean there is benign or malign neglect. For the time being there is neglect.

A reassessment may be appropriate if money and credit growth increase further.

But we are such a large autonomous economic area, comprising a market of some 300 million people, that the impact of developments outside the Euro area on the Euro area are not negligible, but very limited indeed.

There is some evidence -- although not uncontroversial itself -- of the emergence of a new economy in the United States. By contrast it is difficult as yet to find clear evidence of a new economy in the euro area,

In the past 25 years the average growth rate of euro area gross domestic product has been between 2 and 2-12 percent, ... We are now in for a period this year and next year when growth will be in excess, I would even say considerably in excess, of 3 percent a year.

Given that the expected pace of the recovery has been scaled down over recent months, sharp declines in stock prices are having a negative effect on consumer and investors confidence,

This reduction is to be seen as an adjustment of interest rates to an appropriate level to ensure that the euro area will be able to maintain price stability and to contribute to growth,

Don't ask for monetary policy to perform tricks it cannot deliver,

I'm rather inclined to say this deplorable action by the United States' authorities to protect its steel industry may have something to do with the exchange rate of the dollar, as it is being experienced by the American steel industry.

On the basis of the information available, the current stance of monetary policy is appropriate to ensure that the euro area will be able to maintain price stability over the medium term,

The Danish people have chosen to deprive themselves of benefits in the form of an increase in the rate of growth and the welfare of the economy that would have otherwise taken place, and that is already taking place within the euro area.

In a world characterized by highly integrated and sophisticated international financial markets, there is serious doubt whether target zones for exchange rates are feasible.

Our policy is to be as transparent and as predictable as possible,