ECB’s Coeure they are “fully committed” to inflation goal

• Europe needs a mix of monetary, fiscal and structural policy

And a lot of luck

• legacy of financial crisis continues to weigh on growth
• inadequate lending supply no longer a lending constraint
• start of SSM is biggest integration step since the euro
• ECB bank overview will be ” strict and even-handed”

ECB exec board member Coeure speaking in Cyprus

Coeure – ECB “fully committed”

• sees urgent need for Cyprus to speed up foreclosures
• it is critical that Cyprus addresses high level of bad loans

EURUSD 1.2507