Speaking at an economics conference yesterday in Geneva, Mr. B. Coeure (ECB’s Executive Board Member) reportedly said that the ECB may be forced to bolster its monetary stimulus programs if governments fail to act to boost their economies, while also noting that “If there is not much taking place on the structural reform front, if there is not much taking place on the fiscal policy front, then the ECB will do more”.
According to MNI, Mr. Coeure said also that “Growth is picking up,” albeit “certainly not up to the levels we΄d like to see. Potential growth is clearly much below what it used to be”. Moreover, ECB executive criticised the current European structures as “not fit for the purpose of sustaining the single currency,” which he attributed to a “bleak performance in structural terms.”
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