PARIS (Reuters) - The euro currency is here to stay but confidence will be needed to overcome the euro zone’s public finance and competitiveness problems, European Central Bank executive board member Jose Manuel Gonzalez-Paramo said.
“The euro is not an economic experiment, it’s much more and we should not forget that,” Gonzales-Paramo told La Tribune daily in an interview published on Monday. “We need to be confident in the future of the euro.”
He added that Europe’s debt crisis was helping to push through reforms in the currency bloc — a positive effect of market pressure which outweighed the economic damage amassed during two years of uncertainty.
Reporting By Nicholas Vinocur; Editing by Kavita Chandran