ECB governing council member speaking in Madrid 25 May 2016
- further big leaps forward in integration difficult
Not views shared by his colleague Villeroy or indeed many others who fear deeper and deeper ties.
- part of growth problem may be institutional
- Eurozone needs a mix of instruments to sustain growth
- monetary stimulus is reaching its limits
Another reminder that the ECB really can only do so much.
- sovereign debt restructuring mechanism may be needed in Eurozone
Meanwhile EURUSD back around 1.1150 as EURGBP rallies from 0.7600.