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ECB Rejects IMF Pressure to Address Euro Zone Crisis

Written: 2012-04-23 12:02:05Updated: 2012-04-23 13:59:15

ECB Rejects IMF Pressure to Address Euro Zone Crisis

The European Central Bank (ECB) has reiterated that it will not give into pressure from the International Monetary Fund to further address the euro zone debt crisis.

ECB President Mario Draghi told reporters in Washington that he was aware of the calls from the IMF but none of the advice it offered was discussed by the ECB’s governing council in recent times.

The IMF and U.S. Treasury Secretary Timothy Geithner have been pressuring the ECB to take additional crisis-calming steps such as lowering the interest rate below one percent and issuing more long-term bank loans.

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