Skip to content
Subscriber Only

Coeure Urges Reforms or Next Crisis May Test Limits of ECB

  • Euro-area upswing won’t heal crisis wounds, reforms needed
  • Competences of ESM should be enhanced to make it more agile
Video player cover image
Draghi Sees `Very Few Chances' of an ECB Rate Hike in 2018
Updated on

European Central Bank Executive Board member Benoit Coeure 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.”