Deutsche Bank’s Mayer Says Euro Needs Monetary Fund, HB Reports

Deutsche Bank AG Chief Economist Thomas Mayer said the euro area needs its own monetary fund to provide a permanent basis for the currency union, Handelsblatt reported, citing an interview.

Mayer said the 17-member euro area had had only temporary solutions to its problems so far and that an independent institution was needed to oversee political decisions, send warning signals, provide financial aid, and design adjustment programs when needed, the newspaper reported.

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