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2/13, 7:35 PM (Source: TeleTrader)
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ECB's Lane: Prudent approach on tax crucial

European Central Bank (ECB) Executive Board Member Philip Lane (pictured) said on Thursday that every new-coming government in Ireland has to be smart when approaching Ireland's corporation tax receipts. He added he is against the Central Bank of Ireland controlling interest rates charged by banks.

Speaking to RTE News, Lane defended ECB policy of negative interest rates and quantitative easing saying that if ECB didn't go after these policies "the medium-term scenario would be worse."

He also confirmed ECB is focusing exclusively on the euro-area economy but that anything good enough for the euro area is good enough for Ireland. He also noted that "the UK is not big enough to be the driving force for the future of the euro area."

Breaking the News / TF