Visco: Rise Of Euro Is Worrying

Visco: Rise Of Euro  Is Worrying Ignazio Visco, a member of the Board of the European Central Bank, expressed that the rise of Euro is worrying. Ignazio Visco, a member of the European Central Bank (ECB) Board of Directors and president of the Italian Central Bank, said he does not trust that the measures taken against the new type of Coronavirus (Covid-19) pandemic can support the economy. Presenting at an economy conference in Trento, Italy, Visco said, “I don't really believe in positive surprises.”   '' We may face problems with production and distribution. '' In addition, Visco added that the possibility of finding a coronavirus (Covid-19) vaccine cannot resolve the uncertainty in the economy. On the other hand, Visco pointed out that for now, fiscal stimulus packages support consumption and reduce the risk of deflation in countries such as Italy, saying, "The increase in public spending is necessary for the continuity of shocked economies. Stressing that the recent strengthening of the Euro is alarming due to the downward pressure on prices, Visco stated that the European Central Bank (ECB) should intervene if this situation endangers price stability. Stating that there is no discrepancy in the committee regarding the ECB, Visco underlined that their views on the Euro are the same as the Board of Directors.    Click here to be informed about the stock market agenda.