ECB's Mersch calls for 'true banking union' to unblock policy transmission channel
Yves Mersch, the former Luxembourg central bank governor who now sits on the executive board of the European Central Bank (ECB), said this week that numerous stumbling blocks need to be cleared for the ECB's new role as banking supervisor to ultimately ease the burden on monetary policy.
Mersch said that the success of monetary policy rests on integrated financial markets that operate efficiently and smoothly. He said a mistake made in the architecture for European economic and monetary union
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