HIGHLIGHTS-Brussels Economic Forum discussions

BRUSSELS, May 16 (Reuters) - The following are comments by monetary officials from the European Union and elsewhere speaking on Friday in connection with the Brussels Economic Forum, a conference on economic issues.

To see comments from Thursday, double click on [ID:nL15901454].

ECB GOVERNING COUNCIL MEMBER ERKKI LIIKANEN

On market turbulence:

"Persistent turbulences since last August have shown how financial markets suffer from bi-polar tendencies. Overshooting is being followed by undershooting. This time, a period of exuberance and indifference towards risk has been followed by a period of exaggerated nervousness, risk aversion and mistrust."

On competition, growth:

"More competition means more employment, means higher levels of real income, it means more growth. Of course, adjustment is sometimes painful."

On rating agencies, securities market: