Cœuré says ECB's non-standard monetary measures targeted at financial fragmentation
In a speech addressing the often unprecedented policy moves taken by the European Central Bank (ECB) since the onset of the financial crisis on Wednesday, ECB executive board member Benoît Cœuré said such measures "were ultimately inspired by the goal of averting the risk of more severe consequences of the financial crisis on the macroeconomy and, ultimately, on price stability".
Cœuré added that the ECB measures were designed to tackle the "peculiar euro area phenomenon of ‘financial
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