Benoit Coeure

If the new framework is strong enough, yes.” said Benoit Coeure on this article: ECB's Coeure warns on 'challenging' future for London's euro clearing business post-Brexit. This page contains 13 articles quoting Benoit Coeure. Main topics on which Benoit Coeure is quoted are Greeks and policy. In addition you’ll find 17 quotes there. All these quotes are mentioned on this page and you can filter them by date and by topics.

Benoit Coeure quotes

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If that's possible I don't know, I don't know. It sounds challenging.

There is no plan to cut back the purchases to zero. That wasn't even discussed by the Governing Council. A discussion will be needed about normalization of monetary policy but it needs to be initiated carefully.

One needs to find growth sources which do not depend on monetary policy.

But it's up to us to draw the economic consequences and the euro zone will still need financial protection to get through 2017, which will be very risky.

To bring the program to a successful conclusion and to restore market access for the sovereign on a lasting basis, it is above all essential that the Greek authorities continue to show a serious commitment to the goals and measures taken under the program.

It's in theory possible... I mean we are far from being in a place where we need to do it. It's clearly not in the discussion today, we've never discussed it.

If fiscal and economic policies do not in fact play this role, we risk being trapped in a low growth, low interest rate equilibrium. Moving from interest rates being 'low for long' to being 'low forever' would severely limit the room for maneuvre for conventional monetary policy tools, but even more worryingly, it would threaten the contract between generations as well as risk tearing up our social fabric.

All these external shocks have blurred the transmission of QE and made it less effective than we had foreseen initially.

There are serious concerns regarding the sustainability of Greek debt and it is in the interest not only of the Greeks but of the whole euro zone to find a lasting solution.

They (stimulus measures) were taken on the implicit assumption that they would be transient.

None of these challenges are new: they have been clearly identified, they require forceful action and they will be solved over time.

Many banks have been able to more than offset declining interest revenues with higher lending volumes, lower interest expenses, lower risk provisioning and capital gains.

These are challenges that have little to do with the central bank.

Our commitment to our price stability mandate is vital to anchor expectations of nominal growth. What would be the costs for the financial sector if monetary policy?

Last year, for example, euro area banks' aggregate net interest income increased, especially as crisis-hit banks refinanced expiring high-yield liabilities.

One element here will be to strengthen the euro area executive with a euro area treasury, be it within the Commission or as a separate body. Another element will be to build up a genuine legislative capacity at euro area level and to make institutions acting in the euro area's interest, such as the European Stability Mechanism, accountable to it.

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