Caruana at the ECB's Governing Council Dinner

In a speech given on 7 June Jaime Caruana of the Bank of Spain said the ECB's monetary policy has been positive for the euro zone economy, but it needs to be supported by economic reforms by euro zone governments.

"We have seen that, despite the favourable effects a monetary policy unequivocally geared to price stability has on economic prosperity, the full effectiveness of its contribution requires an ambitious reform agenda in other economic policy spheres," Caruana said in a speech ahead of

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