Bini Smaghi says ECB must remove inflation risks

European Central Bank board member Lorenzo Bini Smaghi said Monday 26 March the ECB still needs to take action to eliminate remaining inflation risks in the eurozone.

"We must point out the (inflation) risks, and we must act to eliminate these risks," he told journalists following a speech.

He said the main inflation risks for the eurozone come from strong economic growth, oil prices and the tightening of the labour market.

"We cannot rest on our laurels of the past eight years," he said.

And he