U.S. Markets close in 1 hr 43 mins

ECB's Asmussen says U.S. must re-organize its fiscal policy

BERLIN (Reuters) - The United States must re-organize its fiscal policy in the long term rather than simply altering their debt ceiling every few months, European Central Bank Executive Board member Joerg Asmussen said on Thursday.

Speaking at an event in Berlin organised by the American Chamber of Commerce, Asmussen also said that a free trade agreement between the European Union and the U.S. would make strengthen growth potential in Europe.

(Reporting By Michelle Martin, Writing by Sarah Marsh)