Budapest hosted the second Lamfalussy Lecture Conference, named after Alexander Lamfalussy seen as the father of the euro. The governors of six central banks discussed a way forward for Europe.<br /><br /> “The governors of central banks at this conference acknowledged that what we need now in Europe, in the European Union and in the eurozone is not a traditional economic policy but rather we need brave reforms.<br /><br /> ‘Mario Draghi launched an excellent programme. This effects the eurozone countries foremost, but also affects those outside the eurozone. Reduced yields of government bonds and increased liquidity help the growth of these countries as well,” Gyorgy Matolcsy, Governor Hungary’s National Bank told euronews. <br /><br /> A new narrative for Europe was the main topic of the conference. Creating it in an eclectic group of countries is a problem. Euronews correspondent Beatrix Asbot at the conference said: “In the 16 years of the euro this is the second deflationary period. Ever since there has been a
