ECB’s Panetta Urges Europe to Press Ahead with Reforms to Secure Growth

29 October 2025

By Marta Vilar – FLORENCE, Italy (Econostream) – European Central Bank Governing Council member Fabio Panetta on Wednesday stressed the need for Europe to complete its economic and financial union and to push through reforms to sustain long-term growth.

Speaking at the ECB’s external Governing Council meeting in Florence, Italy, Panetta, who heads the Banca d’Italia, said that in a world shaped by geopolitical shifts and rapid technological innovation, “Europe must consolidate and strengthen its role if it is to continue to reap the benefits of this success.”

He said that reforms aimed at fostering growth should be carried out “with determination and timeliness,” alongside the full delivery of the EU’s economic and financial union.

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