Eurozone governments have been taking extraordinary measures to help stabilize the situation, but they should take bolder actions, Ravi Menon, Managing Director of Monetary Authority of Singapore said Tuesday.
"They have reached a turning point where bolder, decisive actions will be needed to reverse the tide," he said at an Islamic banking conference.
Further, the central bank chief observed that the effects of monetary stimulus, which had helped to support the economy and prevent a full-blown financial crisis, are now leveling off in both the Eurozone and the US.
According to him, the next few weeks and months will be critical as Greece is preparing for a historic election and Spain undergoing a severe strains in its banking system.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.