How strong is euro area monetary policy

Christine Lagarde, Managing Director, International Monetary Fund

“We don’t think that Central Banks are running out ammunition. What we believe is that they cannot do that on their own. Kickstarting economies, improving growth, having a real solid recovery will not be achieved by monetary policies alone, it will require the monetary policies but it will also need structural reforms, it will require fiscal measures and it is the three together that will actually help restore the economic situation of the European Union and particularly the euro area because you talk of monetary policies. This is imperative.”