Coeure calls for timely exit from ECB emergency mode

FRANKFURT (Reuters) - A timely exit from the European Central Bank's emergency measures is essential to avoid speculative asset bubbles and to keep banks and governments from becoming too dependent on the ECB's cheap money, Executive Board member Benoit Coeure said.

Coeure said the ECB had the tools at hand to withdraw the excess liquidity it had pumped into the euro zone's banking system to avert a credit crunch and was ready to act should risks to price stability emerge.