Cœuré: ‘three lines of defence’ needed to protect ECB
Without reforms, ECB may end up having to “test the limits of its mandate”
Benoît Cœuré set out “three lines of defence” that need to be strengthened to “protect the ECB and its mandate”, in remarks delivered in Ljubljana today (February 2).
“The ECB should not interfere in the details of what is mostly a political debate,” the executive board member told a conference on the economic and monetary union. “But we have a stake in the success of the current discussion. Without further reforms, the next crisis may well force the ECB to test the limits of its mandate.”
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