Policy-makers must drop ‘obsession’ with competitiveness, Cœuré says
Eurozone must focus on raising productivity instead, ECB board member says
Economic policy-making must "escape the obsession of competitiveness", a member of the executive board of the European Central Bank (ECB) said on November 21. Such an approach risked a situation where "all economies aim to export low demand", Benoît Cœuré said in a speech in Berkeley, California.
He added "structural reform" was a "term that policy-makers like to utter", which was "often too vague to be meaningful". Within the eurozone, Cœuré said, it was "high time" the debate on policy shifted
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