The European Central Bank (ECB) executive board member Benoît Coeuré said the central bank will start buying private-sector debt instruments in coming days. He also said that it is too early to say Germany could fall into recession.

Coeuré pointed out that the ECB monitors its asset purchases, and there is "no target" for the exchange rate of the euro.

The ECB board member noted that "the recovery in the Eurozone is weak and uneven", and "there is no room for complacency either for us as monetary policy makers or for governments".

Coeuré also said that ""the Eurozone is still in a recovery path".