ECB Said to Redouble Economic Reform Push With Task Force
- Team will assess potential structural adjustments in euro area
- Central bank said to be frustrated politicians aren’t acting
FRANKFURT, GERMANY - JUNE 13: A huge euro logo is seen in front of the headquarters of the European Central Bank (ECB) on June 13, 2005 in Frankfurt, Germany. The German economy was suffering due to the dollar's rise against most major currencies on Monday, especially the euro, which hit a new nine-month low against the dollar.
Photographer: Ralph Orlowski/Getty ImagesEuropean Central Bank officials have time and again griped that governments aren’t doing enough to strengthen the euro-area economy. Now they’re going a step further.
The Frankfurt-based ECB has created a task force of national central bank staff to consider economic reforms, according to people familiar with the matter, who asked not to be identified because the initiative hasn’t been publicly announced. The group, which was set up in the spring and has yet to meet, was established in response to unhappiness that governments are dragging their feet, two of the people said.