News:

- ECB's Executive Board member Jose Manuel Gonzalez-Paramo said on Thursday that the c.bank should be anchor of stability in times of crisis

- He said that the ECB must be unwavering in their determination to keep inflation at bay

- He said that market conditions in some areas, including euro zone remain fragile and added that unsecured lending will continue to remain weak for years to come

Quotes:

- Maintaining measures which have outlived their usefulness for too long could trigger other types of imbalances which could contribute to a new crisis in the future, Gonzalez-Paramo

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Inflation