The ECB continues to call for support from governments in the euro area
- Effectiveness of loose monetary policy can be increased by more expansive fiscal policy or ambitious structural reforms
- Says that countries that have fiscal margin should help boost growth in the rest of the euro area
Their ongoing plea - which only really became more vocal because Draghi was retiring - is still likely to fall on deaf ears. Germany is the obvious culprit in this matter but they have their own political mess to sort out now than to worry about loosening the purse strings.