OctaFX | OctaFX Forex Broker
Open trading account

Euro zone needs to become more ‘shock-proof’ – EU’s Dijsselbloem

FXStreet (Mumbai) - In an interview with CNBC alongside the IMF annual meeting Lima, Euro group President Jeroen Dijsselbloem noted, although growth has returned to almost all Euro area economies, it’s still a while that the entire 19-nation bloc becomes ‘shock-proof.’

Key Quotes:

"A little bit more self-confidence (is what is needed). There's been a lot of criticism about how the euro works, how the monetary union works and over time,
since we started the monetary union we've built it up, we've strengthened it and so I think we're coming into a new phase now."

"Europe is coming out of a crisis. Growth has returned to all but one of the euro zone countries and it's picking up and becoming broader. I think we should use this current stage to become more shock-proof,"

"In order to do that we need to extend and complete the banking union, build a capital markets union to diversify the way finance comes to our economy and we need to push forward with the structural reforms to become even more competitive."

"So for Europe, it's about getting more growth, increasing potential growth and making sure we become more shock-proof."

"We need to cut red tape, open up markets, make sure it's easier for people to start businesses and easier to get finance. If we deal with all these small, structural issues in our economy then I'm sure we can increase that potential growth with four percentage points."

EUR/GBP finds support in weak stocks

The EUR/GBP has moved off the lows to trade around 0.7412 levels as the losses in the European stocks saw the cable trim gains.
Read more Previous

GBP/JPY trims gains near 184.50, risk-off resurfaces

The cross in the GBP/JPY cross halted its winning streak just below 185 handle and is now seen consolidating near the mid-point of the 184 handle.
Read more Next
Start livechat