ECB's Cœuré wants ‘corrective arm’ of EU tool used ‘forcefully’
Board member stresses importance of sustainable rebalancing in the eurozone
Eurozone member states have made "substantial progress" with rebalancing, but many "still have a way to go" to make it sustainable, Benoît Cœuré, an executive board member of the European Central Bank, said today (January 15).
He told the Danish Economic Society in Kolding, Denmark, that the full potential of the macroeconomic imbalance procedure established by the EU – described as a "surveillance" tool – had not been realised.
The procedure has two "arms" with different objectives: a
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