VIDEO: Euro Zone Has Long Way To Go In Climb Out Of Crisis: ECB’s Mersch

The euro zone is early on its climb out of economic crisis but it is on the right track, ECB Executive Board member Yves Mersch said on Friday at a meeting of top bankers in Frankfurt. “Evident pitfalls are between us and the rewarding view from the mountain top. But at the same time I believe we are on the right track,” he added. On the treatment of sovereign bonds by banking supervisors, Mersch said that in the medium term “it makes sense, from a prudential point of view, that assets are being weighted according to their riskines–and not according to conventions which might not reflect reality.” Continued problems in some parts of the euro zone was acknowledged by European Central Bank boss Mario Draghi:

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