October 11, 2016 / 4:20 PM / in 9 months

Euro area economic resilience depends on easy ECB policy, Mersch says

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Yves Mersch, Member of the Executive Board of the European Central Bank attends the presentation of the new 10 euro note at the headquarters of the European Central Bank (ECB) in Frankfurt, January 13, 2014.Ralph Orlowski

FRANKFURT (Reuters) - The euro zone's economic resilience in the face of shocks such as Britain's vote to leave the European Union depends on the European Central Bank's continued monetary support, ECB Executive Board member Yves Mersch said on Tuesday.

"This resilience reflects to a large degree the amount of actual and decided monetary expansion that is priced into financial markets," Mersch told an audience in New York.

"In fact, ECB staff analysis indicates that in the absence of our policies, the euro area economy would be notably weaker."

Reporting By Francesco Canepa, editing by Larry King

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