ECB policy not enough to spur growth says Garganas

Bank of Greece governor Nicholas Garganas said on Friday 24 June that European Central Bank monetary policy has performed well but is not enough to spark growth.

"National economic policies are the relevant instruments to enhance the ability of individual countries to respond to economic shocks and to national divergences," Garganas said.

"Market reform and strict fiscal rules aren't luxuries for members of a monetary union, but necessities," the Greek central bank governor said.

European Moneta