Lagarde ECB’s program is not enough to revive the economy – News Minute to

Lagarde ECB's program is not enough to revive the economy – News Minute to

The director of the International Monetary Fund (IMF) today praised the debt purchase program and how the European Central Bank (ECB) managed the announcement, but said it is not enough to revive the European economy.

“I do not think that is sufficient to revive the European activity and support the growth,” said Christine Lagarde, in an interview with public television France 2.

Lagarde added that “it is a very important addition, but that also are necessary background structural reforms that help improve the structural competitiveness of a number of economies.”

Asked about the kind of reforms that are needed gave as an example the bill the French Minister of Economy, Emmanuel Macron, to liberalize various sectors, indicating also that “found themselves true structural reforms fund in Spain and are also beginning to be seen in Italy”.

The executive director of the IMF considered “spectacular” how the ECB managed the communication on its purchase plan of 60 billion euros per month in public and private debt because “the volume surprised the market” and because the operation “was well explained.”

Now, pointed out, the question is whether the banks “will have enough confidence to give loans to individuals will have the confidence to spend and businesses will have the confidence to invest “.

For all this to work, he argued,” the capital word is confidence and certainty “of all these actors in the foreseeable fiscal and economic environment and favorable to their decisions.