ECB's Nowotny - Full monetary union is needed for euro area

FXStreet (Mumbai) - The European Central Bank (ECB) member Edwald Nowotny was on the wires today stating that the Eurozone needs full monetary union and not just a currency union.

He further added that the central bank is at a risk of overstretching its mandate without a monetary union. Euro area needs governance reform, Nowotny added.