Yves Mersch pandering speaking in Frankfurt
- Sees a need for reform in all EMU countries
- Will continue QE until September 2016 or longer
- Wants to see more sovereignty sharing in economic and fiscal policies
- Enthusiasm for EMU reform has weakened
- Need stricter implementation of convergence mechanism
- Sovereignty claims are no excuse to violate rules
- Credit line from ESM for European bank resolution fund would help complete banking union
He'll be made an honorary German at this rate