ECB Warns of Complacency Risks in Surging Euro-Area Economy
- Region needs to build up new firepower, board’s Coeure says
- European Commission lifted growth forecasts for 19-nation bloc
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With the euro-area economy in the best shape in almost 20 years, now is the time to prepare for future slumps, according to European Central Bank policy maker Benoit Coeure.
The region’s expansion is proving increasingly balanced and robust, much like its upturn in 1999, the ECB Executive Board member said on Thursday. But while current monetary stimulus will continue as long as necessary, the success must also be nurtured by structural reforms that will better equip the region for the next shock, he said.