ECB not responsible for troubled banks, Nowotny says

03/15/2011 | Bloomberg

Ewald Nowotny, a member of the European Central Bank's governing council, said the ECB is not responsible for resolving the financial problems of banks that rely on on it for funding. "It is the primary responsibility of the national governments involved to take care of the problem of specific banks," Nowotny said. "This is not the task of the ECB. The ECB never had a policy which is geared toward specific countries or specific banks."

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