Euro area economic governance reform package inadequate: ECB’s Stark


Jürgen Stark, a member of the European Central Bank's (ECB) executive board, on Wednesday (October 12) said coordination of fiscal policy by euro area governments in the lead-up to the crisis was insufficient, and that new rules on economic governance fall short of the quantum leap required.

At the Bank of Latvia annual conference, Global Challenges and Local Opportunities: Achievements and Prospects in the Baltic States, in Riga, Latvia, Stark said: "Macroeconomic imbalances and unsustainable

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