September 22, 2017 / 8:57 AM / a year ago

Euro zone still far from breaking bank-state doom loop: ECB

COURMAYEUR, Italy, Sept 22 (Reuters) - The euro zone is still far from breaking a so-called doom loop between banks and governments that exacerbated the recent debt crisis, a senior supervisor at the European Central Bank said on Friday.

“We are still far from achieving one of the key goals set at the beginning of the SSM (Single Supervisory Mechanism), namely to neutralise the transmission of risks between banks and public sector finances at the national level,” Ignazio Angeloni, a member of the SSM board, said at event in Italy. (Reporting by Giulio Piovaccary; Writing by Francesco Canepa in Frankfurt)

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