European Central Bank, ECB Quotes

Although the Fed has subjected banks’ portfolios to stress tests to measure the effect of rising interest rates and investment losses, the results might not have shown the whole picture: U.S. banks, particularly small and medium-sized ones, may not have enough capital to maintain solvency and liquidity should their risky loans and investments fail in large numbers. The same is true of the stress tests that the ECB has performed in Europe,

There are so many problems in the E.U. that several countries are warming up to the idea that after the single currency, a deeper integration could also be created.

This is the joint responsibility of everyone who was involved in the introduction of the euro without understanding the consequences. When the euro was introduced, the regulators allowed banks to buy unlimited amounts of government bonds without setting aside any equity capital. And the European Central Bank discounted all government bonds on equal terms. So commercial banks found it advantageous to accumulate the bonds of the weaker countries to earn a few extra basis points.

We've delegated politics to bankers. The European Central Bank is inside Deutsche Bank, and Deutsche Bank is inside the Bundesbank.

If you try and cover all your bases, like the ECB tend to do, you end up with muddled decisions.

The Federal Reserve has an official commitment to two different policies. One is to prevent inflation from getting too high. The second is to maintain high employment... the European Central Bank has only the first. It has no commitment to keep employment up.

We made a decision that monetary policy will be made by an independent European Central Bank.

I hope Greece is going to remain in the Euro zone.

United States of Europe

Euro was created by Germany, for Germany.

Germans tend to forget now that the euro was largely a Franco-German creation. No country has benefited more from the euro than Germany, both politically and economically. Therefore what has happened as a result of the introduction of the euro is largely Germany's its responsibility.

Our future begins on January 1 1999. The euro is Europe's key to the 21st century. The era of solo national fiscal and economic policy is over.

It will not be possible to solve the current crisis with euro bonds.

Unraveling the euro is a terrible thing. This is a 50-year endeavor to get this continent together and that's a wonderful endeavor.

The whole project of European Union is one in deep trouble.

The obstacle for us is not Islam, but the bureaucrats in Brussels.

During my time as England captain I have always been both helpful and direct in my communications with the ECB.

In fact, some leaders come right out and say it. Mario Draghi the president of the European Central Bank had an interview with the Wall St Journal in which he said the social contract's dead; we finally got rid of it.

If we do not resolve the euro crisis, we will all pay the price. And if we do resolve it, we will all benefit, particularly German taxpayers and savers.

Much of what Germany and France have done in the rescue of Greece has also helped German and French banks, who for a long time were major creditors for Greece and Greek banks.

Those who are saying that Mario Draghi is in the camp of those trying to push Greece outside the Euroarea, are wrong.

Global central banks are working hard to lift their economies through an aggressively easy monetary policy. The ECB [European Central Bank] and BOJ [Bank of Japan] are buying tens of billions of bonds and other financial securities each month in an effort to stimulate their economies, which is pushing down rates everywhere, including in the U.S.

I want the whole of Europe to have one currency; it will make trading much easier.

The European Union is effectively a union dominated by the German political and economic elite. Its main function is to serve as a nucleus for financial capitalism and to ease the road for that capitalism. The other functions just irritate everyone: it's undemocratic; decisions are not made by parliament; the European Parliament is not sovereign.

A national currency, with the Euro as a common currency - that wouldn't bother me.