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MNI INTERVIEW2: Europe Must Act To Boost Growth-ECB's Kazaks

SINTRA, Portugal

MNI interviews Bank of Latvia Governor Martins Kazaks at the ECB's forum in Sintra.

The eurozone will struggle to grow enough to maintain its position as a global powerhouse barring decisive action to establish single markets for banking, services and capital, Bank of Latvia head and ECB Governing Council member Martins Kazaks told MNI.

“If we do not fix the capital markets union, if we do not fix the single market in services, it we do not fix banking union and we remain fragmented, we will under-invest and we will lack scale which will undermine future growth,” Kazaks said in an interview on the sidelines of the ECB's policy forum in Sintra.

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The eurozone will struggle to grow enough to maintain its position as a global powerhouse barring decisive action to establish single markets for banking, services and capital, Bank of Latvia head and ECB Governing Council member Martins Kazaks told MNI.

“If we do not fix the capital markets union, if we do not fix the single market in services, it we do not fix banking union and we remain fragmented, we will under-invest and we will lack scale which will undermine future growth,” Kazaks said in an interview on the sidelines of the ECB's policy forum in Sintra.

Keep reading...Show less