ECB's Cœuré defends OMTs in Berlin speech
European Central Bank (ECB) executive board member Benoît Cœuré yesterday told an audience in Berlin that the programme of Outright Monetary Transactions (OMTs), introduced by ECB president Mario Draghi last summer but yet to be called upon in practice, was and is necessary to let the central bank "effectively conduct monetary policy in the pursuit of price stability".
OMTs, said Cœuré, come in for criticism from those who believe they remove the incentive for governments to reform their
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