Milton Friedman Quotes

Interest rates do not have to be identical across the whole euro area, but it is unacceptable if major differences arise from broken capital markets or concern about a euro area break-up.

There is a European Central Bank, of course, established and it has the structure similar to the Federal Reserve system, not precisely the same but similar.

Within our mandate, the ECB is ready to do whatever it takes to preserve the euro. Believe me, it will be enough.

Markets themselves are looking for stability, and I think we have underestimated the capacity of Europe... to actually create a more stable framework for the whole issue of debt management, bonds, and so on.

If by carelessness in controlling inflation and imposing controls on our general economy we are unable to meet these temporary but vital calls upon us, we will be courting real disaster.

We do not project power from bankruptcy court. We're borrowing a million dollars a minute. It's got to stop somewhere.

What would happen if the markets suddenly questioned our ability to keep public finances in check? What would be the effect on growth?

It is easy and quick to fritter away gains regarding macroeconomic stability.

The ECB puts out money that is meant to help our banks, but they do not use it to finance our businesses, but they give it to them to buy back their debt, to help French and German banks.

The most important thing is to defend the euro.

The euro is a sickly premature infant, the result of an over-hasty monetary union.

Ask me whether inflation represents longer-term problem. I think there's a potential there for excess reserves to create problems.

Our national debt poses a threat to all Americans and is particularly troublesome both for well-established businesses and for those seeking to enter into the marketplace.

The Reserve Bank cannot just exist; its ability to say 'no' has to be protected.

Avoiding inflation is not an absolute imperative but rather is one of a number of conflicting goals that we must pursue and that we may often have to compromise.

I believe that the root cause of every financial crisis, the root cause, is flawed government policies.

It's in our interests that the euro is a successful, strong currency.

We spend too much, we borrow too much, and we distort the markets. The bigger the distortions have lasted, the bigger the bust will be.

I think we do need to try to not just rely on the central bank to, in its wisdom, adjust interest rates, but allow for people to avoid being exposed to inflation risk.

Making economic policy isn't a popularity contest, especially when financial markets are in a panic.

A lot more people are willing to invest in bonds denominated in euros. And there was the fiscal discipline argument, which is that this tied the hands of countries the market hasn't always trusted, which also helped them borrow at low rates.

What is important for a central banker is that you have to convey that you know what you are doing.

The impact of low interest rates is broad and deep. Many Americans rely on interest income from their savings to help cover their cost of living.

There is a belief, at least on the part of the American people, that they can borrow money forever without consequence.

What is very negative is that in every country in Europe, the largest owner of that country's sovereign bonds are that country's banks.