ECB’s Coeure: Rates To Stay Low, Europe Needs More Investment
ECB policymaker Benoit Coeure said, the European Central Bank will keep interest rates very low for a long period of time to ensure monetary stability but euro zone governments must do their part to boost growth and cut debt. Saying the current economic situation of high debt, high unemployment and weak growth was very worrying, Coeure told an economic conference in southern France on Sunday: “The only way out is by investing.” But this should not be done by “piling more debt on old debt”, he said, urging euro zone states to ensure flexibility to implement the bloc’s stability pact is based on reforms that have been proven or carried out, not just on pledges.
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