ECB's Benoît Cœuré: MP can do little to lift the long-term growth rate of our region

In a speech titled, Making Our Monetary Union Stronger and More Resilient, Benoît Cœuré, a member of the ECB's Executive Board, says:

• MP can do little to lift the long-term growth rate of our region.

• ECB stimulus will add around one-third of percentage point to 2018 GDP growth

• Any well-functioning monetary union depends on flexible markets, adequate national fiscal buffers and a common fiscal instrument to cope with large shocks.