Speculation has been rife as to if and when the Bank will start a U.S -style sovereign bond-buying program to stimulate the euro zone economy and quell deflationary pressures. The ECB has already launched a slew of measures to ease credit conditions in the region, including cutting interest rates to record lows and announcing plans to purchase covered bonds and asset-backed securities (ABS).
Read MoreECB’s Draghi: Buying sovereign bonds is an option
Stark said he doubted whether the covered bond and ABS purchases would boost the ECB’s balance sheet by the aimed for 1 trillion euros ($1.2 trillion)—and would therefore push the governing council to approve sovereign bond buying.
“We don’t want war, we want peace. We are fighting for EU values. Russia doesn’t respect any agreement.”
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