ecb speech, 2024-02-16
With NGEU, the euro area temporarily addressed three important gaps in its institutional architecture: (i) it set up a central fiscal tool to provide stabilisation through common resources, which supports monetary policy; (ii) it led to closer integration in economic policymaking by coordinating strategic investment decisions at the European level; and (iii) it increased the liquidity of EU bonds and it deepened euro area capital markets, thus making progress towards the creation of a truly European safe asset.
Sentiment: neutral
Topic: mp_economic_activity