ECB’s Mersch warns against excess liquidity policy becoming ‘permanent feature’


Yves Mersch, a European Central Bank (ECB) executive board member, today called on Europe's banks to make the most of the financing conditions created by the central bank and "revive the flow of credit" in the eurozone.

Mersch told an Institute for Monetary and Financial Stability conference that the successful conduct of monetary policy "must not be used as a pretext for complacency" in other policy areas.

In particular, he said, the ECB's excess liquidity policy – for instance, its long-term

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