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Demand is necessary to avert Japan-style fate, ECB's Nowotny says
November 16, 2015 / 6:59 PM / 2 years ago

Demand is necessary to avert Japan-style fate, ECB's Nowotny says

VIENNA, Nov 16 (Reuters) - The euro zone faces the risk of entering a Japan-style situation with long-term low growth, low inflation and low interest rates, European Central Bank Governing Council member Ewald Nowotny said on Monday.

“This is exactly the scenario we want to avoid,” Nowotny told a panel discussion in Vienna. “This will not be possible without effective demand.” (Reporting by Kirsti Knolle; editing by Francois Murphy)

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