5/24/2011

Ewald Nowotny, a member of the European Central Bank Governing Council, said the institution will have "a basis for new decisions" at its meeting in June. "The ECB is now contemplating the strategy on exit policy, so that we are step by step returning to a certain normality in monetary policy," he said. "The basic strategy is towards an exit." Greece "clearly could do more" to overhaul its economy and meet the terms of its rescue package, Nowotny said, and Portugal is in a "much better position."

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