Speaking in Florence Italy
ECB's Smets speaking in Florence Italy says:
- Progress is needed in real convergence of euro economies
- Too low inflation, deflation as bad as high inflation
- Low inflation is not worrying; a little patience is needed
- "We are in the middle of the river" and "we should strive for completion" of the European monetary project.
- Both banking, Capital Market unions need to be completed
- If inflation is low because energy prices are down, it's not a big deal
- Many euro nations inflation is not rising because of low wages, still slack in economies
Jan Smets is Belgium's central bank governorwhat is the
