Kazimir: Weak eurozone growth could last for years

European Central Bank Governing Council member Peter Kazimir said, that the eurozone economy may remain weak until the block solves a number of structural problems. 

Kazimir, who is also the head of the Central Bank of Slovakia, also noted, that the EU is lagging behind in technology, that prevents the bloc from achieving significant economic growth. Moreover, in order for the European economy to show signs of strengthening, it is necessary to complete the European Monetary Union.

Another Governing Council member Madis Müller said, that the regulator should consider reducing inflation control. «We could be more flexible and not chase that goal (inflation just below 2%) at any price», – he said.

Recall that last week the ECB released a forecast for the eurozone economy, which lags behind potential, and noted, that the pace could slow down even more by 2022.