Governing Council and Peter Praet

ECB: The Governing Council sets policy at the bank, according to Euro News. Praet also stressed the need for trust between countries that embark on reforms and those which give them financial backing. Asked about Greece membership of the currency bloc, the ECB chief economist Peter Praet told Saturday edition of der Standard: The Governing Council of the ECB wants Greece to remain a member of the euro. When a country agrees to do something, it has to implement the agreement. If a government is trusted, it doesn’t mean so much if an agreed figure is not reached exactly in a year. The more credible a country is, the more patient creditors can be and the more trust they can show, he said. (news.financializer.com). As reported in the news.