European Central Bank chief asks governments to help growth

FRANKFURT, Germany (AP) - The new president of the European Central Bank, Christine Lagarde, says better-targeted public spending would help support economic growth in the eurozone.

In her first official speech Friday, Lagarde indirectly chided countries like Germany that have kept a tight grip on their budgets while making clear that a spendthrift approach to public spending would be hazardous, too.

Lagarde said 'œthere is today a cross-cutting case for investment in a common future that is more productive, more digital and certainly greener" and warned that public spending in the 19-country eurozone 'œremains some way below its pre-crisis level."

She also said the ECB will begin a strategic review of its monetary policy 'œin the near future'ť but the bank would also 'œcontinuously monitor the side effects'ť of its current low-interest stance.