Fed’s Fisher praises "courageous and effective" ECB policy actions

FXStreet (Mumbai) - Federal Reserve (Fed) Vice-Chairman Stanley Fisher attended the European Central Bank (ECB) Conference in Portugal, where he gave a speech regarding the endless issue of the Greek debt burden.

Mr. Fisher appreciated "courageous and effective" policy actions recently performed by the ECB.

Fischer said he was "in favor of the survival of essentially the present euro area, even though we will await the outcome of the Greek crisis, and even though we know that the present crisis is not over,''

"In the longer run, the European monetary union will not survive unless it brings prosperity to its members," concluded Fischer.