ECB's Mersch: Eurozone crisis not entirely over yet

FXStreet (Łódź) - ECB executive board member Yves Mersch, who spoke on a panel in Brussels on Friday, suggested that the Eurozone hasn't exited the economic crisis yet, despite the gradual progress of the recovery.

The EU economy can only become more resilient if problems are solved on a national level taking into consideration legacies, the ECB lawmaker stressed. He added that there is a need for a genuine economic union in which there is no room for an inter-governmental approach.

Mersch said that the ECB expects the EU Council, Commission and the Member States to implement the necessary changes, deliver on their promises.