The euro zone is early on its climb out of economic crisis but it is on the right track, ECB Executive Board member Yves Mersch said on Friday.
“The euro area is early on in the climb out of the crisis. The summit is still far and covered in fog,” Mersch said in the text of a speech for delivery at Frankfurt’s Goethe University.
“Evident pitfalls are between us and the rewarding view from the mountain top. These pitfalls are competitiveness, deleveraging and institutional barriers. But at the same time I believe we are on the right track,” he added.
On the treatment of sovereign bonds by banking supervisors, Mersch said that in the medium term “it makes sense from a prudential point of view that assets are being weighted according to their riskiness and not according to conventions which might not reflect reality.”
But he added that this should be coordinated at an international level by the Basel Committee for Banking Supervision.
via Reuters 
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.