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Saturday, December 1, 2012

"The euro is a currency with a state", says ECB's Coeure

Benoit Coeure, Treasury Chief Economist, reacts as he speaks the day after France nominated him as a candidate for the executive board of the European Central Bank at the Bercy Finance Ministry in ParisPARIS (Reuters) - European Central Bank policymaker Benoit Coeure urged euro zone governments on Saturday to forge a closer political union, arguing "the euro is a currency with a state" whose branches of government need more clearly defining. Praising the deal reached earlier this week to reduce Greece's debt burden as an unprecedented commitment by euro zone governments to keep the crisis-wracked state within the single currency, Coeure told an economic forum in Paris there needed to be closer political coordination to manage crises. ...



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