Eurozone
Coeuré urges reforms or next crisis may test limits of ECB
ECB Executive Board member identifies three defenses to strengthen 19-nation currency bloc
European Central Bank Executive Board member Benoit Coeuré urged European governments to push ahead with plans to strengthen monetary union to avoid stretching his institution’s mandate in the next crisis.
"Without further reforms, the next crisis may well force the ECB to test the limits of its mandate," he said in a speech near Ljubljana, Slovenia, on Friday. "To assume that the current economic expansion will heal all wounds is naive. The euro area needs reform."
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