Ready to use all instruments at the disposal – ECB’s Visco

FXStreet (Mumbai) - The European Central Bank (ECB) member Visco said the bank is ready to use all instruments at the disposal in order to contain monetary, financial and economic consequences from the Greek crisis.

Visco added that direct economic and financial effects from Greece likely to be modest, but those effects could be more severe if the markets fear that the Euro is not irreversible. He further stated that so far the Greek crisis has not weakened the ECB’s QE program, which the bank is determined to complete. Any undesirable tightening of monetary conditions will be strongly countered, he added.

ECB can only continue to support Greece if there is a clear prospect of a political deal on a program, Visco said.