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ECB's Coeuré calls urges EU to keep up reforms to prop up recovery

FXStreet (Łódź) - Giving a speech at an economic conference in Riga, Latvia on Friday, ECB Executive Board member Benoit Coeuré said that national governments should continue implementing structural reforms, despite the current loose monetary policy.

“Talking vaguely about structural reforms, but not doing them, is the worst of all worlds,” he stressed. “It creates uncertainty over the path of real interest rates, without in tandem raising expectations of future growth.”

The ECB policymaker said that a slower pace of reforms could result in a extended contractionary effect therefore they should be accelerated and broadened. The current stubbornly low inflation in the Eurozone could mean that reforms haven't been implemented quickly enough, Coeuré suggested.

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