European Central Bank member Ewald Nowotny said that the problems facing Italy should not delay the decision to raise rates. His most prominent statements were as follows:
- There are no immediate risks escalating in Italy.
- Italy's main problem is an almost stagnation of the real economy.
- The ECB should focus on raising interest rates away from the negative range.
- ECB should adopt a firmer line in normalizing its ultra-easy monetary policy.
- There is clearly no danger of deflation in the euro area.
