October 27, 2017 / 7:32 AM / a year ago

Euro zone budget could help tackle next recession: ECB's Praet

FRANKFURT (Reuters) - A common budget for the euro zone could help tackle any future economic crisis once the European Central Bank’s rates are already cut to zero, the ECB’s chief economist said on Friday.

European Central Bank Executive Board Member, Peter Praet, speaks during a conference in Sofia, Bulgaria May 24, 2017. REUTERS/Stoyan Nenov

“Such a central budget could help monetary policy, especially in times of deep recessions when nominal interest rates may reach their effective lower bound,” Peter Praet said at a conference.

Reporting By Francesco Canepa; Editing by Balazs Koranyi

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