European Union Industry Commissioner Antonio Tajani said in an interview on Sunday he thought the European Central Bank should expand its role to promote development. "My opinion is we also need an ECB like the US Federal Reserve, which should work not only against inflation but in favour of development. We need new rules," Tajani told the ABC newspaper.
Tajani added this meant the ECB should be able to buy public debt directly by setting up EU debt instruments.
"I am a fervent supporter of eurobonds and certain proposals which have been made in that respect," he said. The EU has been divided on whether to introduce common bonds with the ECB acting as lender of last resort. France and Ireland are in favour, but Germany and the bank itself staunchly opposed.