Axel Weber, European central member and the head of the German Bundesbank, said the ECB should not withdraw stimulus till at least the first quarter of 2011 as he sees that it is too early to remove the non-standard measures amid the escalating fiscal woes.

He said the ECB should keep the weekly, monthly and three-month refinancing operations till the beginning of next year while he did not approve the continuation with longer financing such as six-month loans, confirming that the time of withdrawing will depend on the strength of the banking system.