May 28 - ECB policymaker Ewald Nowotny says the economy will pick-up in the second half but the market shouldn't overestimate the role of interest rates.
Covenant of -- and the weather today is pretty stormy it's -- sad reflection on and the outlook for the eurozone economy. It's true it's sort of storm outside the and its source focus. Not very fair with for the European economist for the time being. But so -- of the administrative proof. And concerns the economy in in Europe. I think that was -- -- improve. The second half of this year. Who would defend the cutting interest rates held -- in -- -- I think -- -- not so over estimate. The order of interest rates. And this tradition of have very low interest rates. And so my priorities that. If you -- it. Won't be Bruce. One of them will miss and so myself because it's a provision. What exactly I think he'll. Blow that cooked -- for instance some. And laments that's. Have a special positive effects. On this morning we demand the -- of lending to supported him for purposes. I think that we have -- common interest in Europe. Of food reviving. The ABS. Market. Record know that this has been a market. Very vocal -- strange things happen than the US. But that doesn't mean that this eleventh I think this is an important element of -- The capital markets so I think that so -- tried to. Who revived this or maybe you should be can be important complex. Who would know exactly could the ECB came in this field. Well it's -- of this sort of com -- Ruth book recounts those who total of collectible. So off previous auctions. This is mean -- -- not thinking of I'm staring back cuts. Missile that some of the way to -- extends through -- Except it's good to -- instructions just sort of -- The way how will have from covered effect on the one hand it would of course. And for funding. For those hard. Especially the pick up -- or her person who's on the other hand I think is the most important. To create. Except through its structures. High court's instructions. Before this. For this kind of instruments. And sourcing this will PO drawer that's -- go beyond this specific he should be founding. So we'll have an impact. On markets themselves. Thank you very much governor when he.