According to Volker Wieland, the European Central Bank (ECB) has the necessary monetary policy instruments. "The ECB is not out of tools", Wieland said in an interview with Bloomberg TV at the ECB Forum in Sintra. Countries that needed support could apply to the ESM.
Wieland warned that currently there is no support for giving up sovereign decision-making on the budget on the national level. "People don't want that at the moment", he said.
Bloomberg TV: "It's too early to speak of a recession, says economist Volker Wieland"