European Central Bank Governing Council member Christian Noyer said Wednesday that it was an “illusion” to think that the level of the euro could be managed but said he was open to additional liquidity measures.
“We cannot put the euro at the parity that we would like,” Noyer said in an interview on Europe 1 radio. “It is an illusion to think that with a wave of a magic wand we can decide the level of the euro.”
Noyer said he was nevertheless open to possible other measures that might add liquidity to the market.
“Personally I am in favour of one or two additional measures to inject more liquidity, for example — technically that means suspending the absorption of liquidity. I think we can do a little bit more. But essentially we have done all that is necessary.”