ECB action should not weaken motivation to reform, Kazimir says

FRANKFURT (Reuters) – European Central Bank action to fight off financial fragmentation within the euro zone should not weaken the pressure on countries to reform, ECB policymaker Peter Kazimir said on Twitter on Tuesday.

“It’s crucial not to become victim of our ability to respond and adapt and thus weaken our counterparts’ willingness and motivation to act,” Kazimir said.

“The problem, in my view, is that the ECB is way too often the only player in town; this has to change. The sooner, the better,” he said.

The ECB will this week discuss a new bond purchase scheme aimed at capping the rise in borrowing costs on the bloc’s periphery.

(Reporting by Balazs Koranyi; Editing by Francesco Canepa)