·     ECB's response to the region's crisis is justified by the need to avoid deflation and a credit crunch -Coeure

·     He said the EZ crisis nonetheless risked leaving behind a lost generation as a result of slow growth and high unemployment.

·     "The ultimate justification for such measures was the need to pre-empt negative inflationary pressures and avoid a collapse in money and credit creation," Coeure said in parliament

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