Monetary policy measures taken by central banks so far have ventured into “unknown and dangerous territory”, a member of the board at Deutsche Bundesbank warned on Thursday, arguing that it was now time for European governments to make the structural changes necessary to resolve the eurozone crisis.

Speaking to a room of finance executives at UK fund manager Schroders on Thursday, Andreas Dombret, a member of the Deutsche Bundesbank executive board, said that monetary policy had helped contain the crisis so far, but could not resolve it.