European Central Bank Executive Board member Benoit Coeure said the euro-area economy will return to growth next year, Slovenia’s Delo newspaper reported, citing an interview.
“Economic growth will come back in the course of 2013,” Coeure was quoted as saying. “At first it will be slow. It will then accelerate gradually, thanks to reforms.” He said the ECB is ready to start its new bond-purchase program “once all the prerequisites are in place,” and the ECB can support economic growth and financial stability as long as that’s consistent with its price-stability mandate.
The idea of a common euro-area budget “is interesting and should be examined,” Coeure said, adding it is “not a short-term prospect.”
Coeure said he’s “very optimistic” that the debt crisis will be resolved.