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Signs Of Stabilization In Eurozone Increasing: ECB's Coeure

2/22/2013 8:16 AM ET

The Eurozone economy has been showing signs of stabilization in recent months, European Central Bank Executive Board member Benoit Coeure said Friday.

According to the text of a speech to be delivered today in Lisbon, the beleaguered economies of Spain and Greece are likely to see a turning point this year, or sometime in early next year.

"Thanks to the actions of EU governments and the ECB, and with IMF support, signs of stabilization in the euro area have been increasing in recent months," Coeure said.

Coeure, however, noted that there is a need for reform in all member countries, including the larger ones, though at varying degrees and in different areas.

by RTT Staff Writer

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