ECB’s Costa: Current economic problems are structural, not just cyclical

  • Calls for reindustrialization in Europe
  • Euro zone must be integrated monetary market (not sure what he means there)
  • Banking union is best way to unleash EU’s growth potential
  • Banking union will help businesses plan growth
  • Sees fragmentation of credit conditions in euro zone
  • Banking union needed to break link between banks, sovereigns

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