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The European Central Bank (ECB) board member Benoit Coeure, while speaking in Budapest, said that the ECN’s sovereign QE program buys time for Eurozone government’s to implement structural reforms.
"Our recent decision to expand our asset purchases has opened a unique window of opportunity for euro area governments to act together, remove structural obstacles to growth, and pull our economy out of the low growth, low confidence trap," Benoit Coeure, a member of the ECB's Executive Board, said in the text of a speech.
"In the long-term, a Union based on no risk-sharing will be vulnerable economically," he said, adding that countries needed to share sovereignty over key structural reforms.
"Our recent decision to expand our asset purchases has opened a unique window of opportunity for euro area governments to act together, remove structural obstacles to growth, and pull our economy out of the low growth, low confidence trap," Benoit Coeure, a member of the ECB's Executive Board, said in the text of a speech.
"In the long-term, a Union based on no risk-sharing will be vulnerable economically," he said, adding that countries needed to share sovereignty over key structural reforms.
