ECB's Cœuré urges eurozone to take lessons from Asia
European Central Bank executive board member Benoît Cœuré says the eurozone should draw lessons from Asian governments' restructuring of their domestic financial sectors after the Asian financial crisis in the 1990s.
"Non-viable financial institutions were closed, viable institutions recapitalised and strengthened," Cœuré said in a speech yesterday at the Asia Europe Economic Forum on 'Challenges and Prospects for Asian and European Economies', adding that while such measures were associated
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