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ECB's Constancio says time to take bubble-bursting "more seriously"

Reuters
European Central Bank (ECB) Vice President Vitor Constancio is seen at a news conference at the ECB headquarters in Frankfurt, Germany July 20, 2017. REUTERS/Ralph Orlowski (Reuters)

FRANKFURT (Reuters) - It is time that authorities in Europe and the other rich parts of the world take the fight against financial bubbles "more seriously" or risk facing another financial crisis, the vice-president of the European Central Bank said on Tuesday.

"Monetary policy, even when recalibrated, will continue to keep a very accommodative stance," Vitor Constancio said at an event in Lisbon.

"This implies that, in the present configuration of risks, Europe and all other advanced economies will have to take macroprudential policy much more seriously or they will face the risk of other financial crises that monetary policy cannot prevent."

(Reporting by Francesco Canepa; Editing by Alison Williams)