Euro zone must stick to prudent fiscal path amid global yield rises -Eurogroup head
TLT•Euro zone urged to keep to agreed fiscal paths
DUBLIN, Sept. 18 (Reuters) - Euro zone economies must stick to fiscal paths agreed with European Union institutions to preserve credibility with bond markets, the head of euro zone finance ministers said on Friday.
"Global financial conditions are tightening. This is also reflected in sovereign bond yields and for as long as this conditions persist, the pressure on national budgets will increase," Kyriakos Pierrakakis told a news conference.
"In times of uncertainty, credibility becomes an economic asset. This is why we need to stay on the fiscal path that we have agreed upon," he said. "This is essential to maintain favorable financing conditions and safeguard the long term sustainability of our public finances."
