Exec board member speaking today
I wasn't able to update the post due to gremlins in the system so re-posting
- vulnerabilities of many Eurozone countries are related to the high stocks of debt, both public and private, and to a large number of structural rigidities
- monetary policy can not carry the burden alone
- govts must undertake reforms while loose monetary policy buys them time
"Our main concern is that across euro areas domestic vulnerabilities are still very large which implies a limited ability to withstand adverse external shocks and to kick start a new phase of sustainable growth"
Like I said in the original post, the good news just keeps on coming. Not
