ECB’S MERSCH: IT IS TIME TO END STIMULUS

INSTEAD of timidly reducing deficits, governments should be aiming for surpluses, the European Central Bank’s (ECB) Yves Mersch said yesterday. The governing council member, who also heads Luxembourg’s central bank, said it was time to withdraw stimulus measures at “a moderate but steady pace.” “Governments will have to achieve surpluses in order to erode massive debt mountains,” he said.