The European Central Bank (ECB) Executive Board member Benoît Cœuré said on Wednesday that Eurozone's countries should use fiscal space to boost the economic growth in the Eurozone.

"Using fiscal space would speed up the euro area's return to growth and support the ECB's objective of medium-term price stability. But, in many countries, such fiscal space simply does not exist, because rules have not been enforced in the past," he said.