ECB's Cœuré hails 'European solidarity' smoothing the process of 'adjustment'


"European solidarity" has helped "smooth" the process of the economic "adjustment" in the eurozone, according to a speech given by European Central Bank board member Benoit Cœuré in Portugal on February 22.

Cœuré said the "adjustment process is not yet complete", but hailed the progress made in countries such as Portugal, which have "taken important steps towards sustainability".

He also examined factors that made the adjustment more painful than it would otherwise have been – blaming "a number

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