Europe Should Focus More on Structural Reforms -- Report
July 05 2015 - 1:18PM
Dow Jones News
By Emese Bartha
Europe should use the current economic situation to carry out
reforms, said UBS Chairman Axel Weber in a preview of an interview
to be published by Handelsblatt on Monday.
Mr. Weber, formerly president of the Bundesbank, recommends that
the reforms should focus on the labor market, tax system, social
benefits and education, adding that "the structural problems in
Europe can't be solved with monetary policy."
Mr. Weber said there is too much talk about debt reduction and
central banks' monetary-policy measures and too little about
structural reforms.
"I was and I'm of the view that the European Central Bank as
central bank isn't in the situation to solve these problems alone
and they are also not its tasks," Mr. Weber said.
Write to Emese Bartha at emese.bartha@wsj.com