IMF urges European authorities to complete banking union
Fund backs ECB’s accommodative stance; rates should remain low after QE ends in December
European authorities should complete the eurozone’s banking union to increase the region’s resilience to future crises, the International Monetary Fund said on July 19.
The fund’s directors concluded the Article IV consultation on euro area policies with member countries on July 16. In their report, they call on European officials to limit the current fragmentation of the continent’s financial system.
They consider it necessary to create a credit line from the European Stability Mechanism to
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