The prospect of the European Central Bank’s 1-trillion euro ($1.1 trillion) bond-buying program has cheered global markets, but the finance minister of Cyprus told CNBC it must not stop efforts to reform.
Harris Georgiades, Cyprus’ finance minister, said that while he was a strong supporter of the forthcoming quantitative easing (QE) program, reforms could not be put on the back-burner. ECB President Mario Draghi revealed on Thursday that the controversial program would start on March 9.
“I’m a strong supporter of this new policy of the ECB and I do believe it will help the euro zone as a whole and, of course, Cyprus, and the benefits will be multi-dimensional,” Georgiades told CNBC Wednesday.
Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.
Latest posts by marketpulsefxstaff (see all)
- Oil Remains Near Multi-Month Lows - 6 August 2015
- U.S. Dollar Higher on Recent Data - 6 August 2015
- Greece’s PM Tsipras: Loan Deal with Lenders Close - 6 August 2015