ECB Coeure: Euro Zone Still in “Severe Crisis”


Todd Buell
online.wsj.com
July 10, 2013

The euro zone remains in a deep crisis, posing challenges for those tasked with setting policy on the continent, European Central Bank Executive Board member Benoit Coeure said in a speech Wednesday.

In his remarks, prepared for delivery in Paris and published on the ECB’s website, Mr. Coeure did not discuss the central bank’s introduction of forward guidance on interest rates at its policy meeting last week. He said, however, that the ECB “will keep an open mind and stand ready to react flexibly to new developments, abiding by the same principles and staying within the boundary of our mandate.”

The central bank aims to keep consumer-price inflation just below 2% over the medium term.

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