European countries and certain euro countries should do to hunt. economy in Europe again more The key word here is structural reforms. That underlined Eurogroup Chairman Jeroen Dijsselbloem today in Milan, where he is to consult with the finance ministers of the euro countries.
According Dijsselbloem has “lost too much time” in a number of countries when it comes to structural reform. It’s time to step up that pace the minister said. “Politicians should not always look to the European Central Bank to do more.” According Dijsselbloem is the ECB already gone very far in accommodating the economic recovery. “It is the amount of time to see how the countries can do more” in the spare time that the ECB has given “us, says Dijsselbloem.
Dijsselbloem was responding to the call from the head of the ECB, Mario Draghi, and the measures taken by the ECB. Draghi stated that the ECB will have incentives if governments also the necessary structural reforms to only effect economic growth. Only then will the eurozone economy will again rise above the level before the economic crisis, according to the central bank governor. Therein he is absolutely right, says Dijsselbloem.
It is a good mix of monetary policy by central banks and sound fiscal policies combined with reforms by the countries, said the Eurogroup President. “All our efforts will only lead to structural growth as we tackle Europe’s competitive position.”
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