Eurozone states remain fully responsible for their own decisions – ECB’s Weidmann

FXStreet (Mumbai) - The Eurozone Central Bank (ECB) member Weidmann said today that the individual member states are responsible for the consequences of their own fiscal decisions, while stating that implementing fiscal reforms require perseverance.

Mr Weidmann further stated that Greece’s decision to stop cooperating with Troika shows a difficulty in accepting European influence on national policy, further stating that doubts over a country’s solvency could spread if markets see the European project entailing mutual financial assistance. The policymaker also said that joint liability should not be broadened further without ceding budgetary sovereignty.