There is no current need for a further three-year tender after the European Central Bank's holds its second such refinancing operation at the end of this month, ECB Governing Council Member Ewald Nowotny said Friday.
"I believe the general feeling in ECB council is that we have set very considerable measures. Now it is about waiting and seeing what effect these measures have in connection with economic developments. I personally don't see any need [for a further three-year tender]," said Nowotny, adding, however, that the ECB never pre-commits to any course of action.
The central banker also said that the three-year tender had had a positive impact and its effect on banks had been structural and had not led to a wave of loans being given out.
He also said that the ECB's role was not to provide monetary financing directly to member states.
Nowotny, who is also the central bank governor of Austria, said that Austrian banks were not "addicted" to the ECB's liquidity measures.
While the governor views the second Greek bailout package as positive, he said it was important to consider growth measures for Greece. The goal should be to make Greece more attractive for foreign investors through infrastructure and administrative changes, he said.
Nowotny was speaking at a discussion in Vienna with financial journalists.
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