Davos 2014: Deflation? What deflation? Bank of Italy chief
Friday, January 24, 2014 - 03:38
There is no deflation in Europe, and comparisons with Japan are off the mark, says Bank of Italy Governor Ignazio Visco.
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Fifteen -- -- who is here at dollars and giving various speeches and panels you know warned -- speech yet again about the problem of inflation. Think of that topic of the concern is that for you. -- the reasonable deflation. And this is stuffed imposing. Not secondly obviously we -- vigilant for the what we see he's. Across the bow -- vote as a substantial reduction victories. Much -- will be conceived. Price of these things so close to 2%. On the one side in them move them since we. So she had a fundamentally. Items that shall not negative rates. And these city's sizable but he's not compatible with the one that was reached in 2000 thing of note for the one. The rules of the unity in Japan. -- the -- -- mean -- deflation -- -- issue. So in these things that. We we have on this but we re being who you lose -- from what -- The content. Well. When that concern doesn't rise so it and -- the concern does -- what tools what mechanisms are there that you have to deal with it now. At least two kinds of make -- into being on the reads. -- -- -- -- We have say that the weekend -- spew out peace but peace table so we can. We have ready to conceive a negative interest rates on both to listen if nests. -- -- Secondly you intervene on the funding side of the creative side that you provided in the economy and funding the reform through. For backs and we have experience -- about who we. Can it war containment of this kind of instruments and and then you can intervene on gossip site. And -- -- student -- and other things there is nothing that the that the heat that can be accepted by the only thing to treat. So we cannot purchase -- bones. Directly and really not. You see. Medium sized Italian banks. Emerging perhaps as a result of the -- -- -- yes equality review is that something you would encourage. What was the -- I saved. Openly. And if if the reasoning there's nothing against. It -- to find them might be conditions for so combines the unity to IP if we one bank and that we recently. Which was inspected we've particular situation say the couldn't see the stuff that he's supposed to do it in your food. But obviously we not to -- designed to map all the post blogger creations and all to this somehow decide upon. And the way Damascus should have grown from home votes on the what we then -- -- Reduce the risks of -- you know salute being. At capitalizing off. -- timing and -- provisions to fees expect it will also send in the fiscal via. Can you give us a sense of how much money you think the banks -- after race after this health check this doctor's appointment obviously know. I tried. And could have thought that if you want to see what the many of them and others -- -- -- -- but his -- and about it. Varying from that dismal. They don't want to. 1% of GDP pieces and pieces we'll have a parade no. A week to the united DC three. There was.
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