ECB's Mersch urges Eurozone to stimulate ABS market

FXStreet (Łódź) - Executive Board member Yves Mersch said on Wednesday that the Eurozone economy was still vulnerable and that it could plunge into crisis again if national governments failed to make sufficient efforts to boost growth.

Therefore, it is crucial to for the authorities to push for closer financial integration in the region, Mersch suggested. He stressed the need to attract investors to the asset-backed securities market, which would in turn improve SME financing conditions.

"A capital markets union can provide very important impulses for both economic recovery and financial stability," the ECB policymaker argued.