ECB's Benoît Cœuré: MP can do little to lift the long-term growth rate of our region

In a speech titled, Making Our Monetary Union Stronger and More Resilient, Benoît Cœuré, a member of the ECB's Executive Board, says:

  • MP can do little to lift the long-term growth rate of our region.
  • ECB stimulus will add around one-third of percentage point to 2018 GDP growth

  • Any well-functioning monetary union depends on flexible markets, adequate national fiscal buffers and a common fiscal instrument to cope with large shocks.

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