ECB's Asmussen says that jobs should be at the centre of policymaking

The European Central Bank's (ECB) Jorg Asmussen has said that the crisis which currently grips the Eurozone is not a product of the common currency, but of international business models and practices.

He said that "austerity versus growth" is the wrong debate, and that fiscal consolidation will remain on the table, and that jobs should be at the centre of policymaking.

Asmussen reiterated that monetary policy is presently expansionary, and will remain so for as long as necessary. He said that the ECB still has a number of standard and non-standard measures available.