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Buba's Weidmann urges EU countries to continue reform efforts

FXstreet.com (Barcelona) - Bundesbank head Jens Weidmann said today in an interview for a German daily that EU countries should not fight unemployment by cutting down on planned reforms and by using stimulus programs, as this is not how durable employment is created.

Weidmann stressed that youth unemployment in some EU countries reached “dramatic” levels and that medium-term measures and an increase in debt “do not create the sustainable jobs that are urgently needed."

This way the Bundesbank president affirmed that reducing saving efforts doesn't solve the problem and that young people have long-run prospects, which according to him “only competitive companies and a healthy economic structure can offer.”

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Forex: NZD/USD, a double bottom or a descending triangle?

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