ECB’s Cœuré urges ‘revival’ of money markets

Benoît Cœuré, a member of the European Central Bank's executive board, on June 16 called for regulators to encourage the "revival" of money markets in Europe.

"In the end, lending is an act of trust and there is no alternative but to restore full confidence in the soundness of bank and government finance," Cœuré said. He argued that policy-makers should focus on strengthening bank balance sheets and moving towards a banking union to achieve this.

Speaking at the Morgan Stanley 16th Annual Global