Central Banks

ECB vice president Vitor Constancio comments in a statement on the ECB’s publication of “Financial Integration in Europe” report

  • It is a big waste to have taken the huge step to adopt a single currency and continue to forgo the benfits that could be reaped by creating a true banking and capital markets union
  • Eurozone countries should forge ahead in enhanced cooperation in order to more rapidly achieve capital markets union
  • Main force behind capital market-oriented process was strengthening and broadening of the economic expansion in the Eurozone
Nothing too concerning on the euro. Constancio is due to speak later on the day as well, as noted here. Do take note that he will be leaving the ECB this month and will be succeeded by Luis de Guindos.
No longer going to be the best of buddies from next month onwards.

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