Eurozone faces 'lost decade' unless action taken on banks Before the crisis, the youth unemployment rate was twice the average rate of overall unemployment; it is now 2.6 times higher. The emergence of a "lost generation" is morally unacceptable," he said. Mr Coeure said that ECB monetary policy would "remain accommodative for as long as necessary" in order to support the recovery and counter the effect of market "fire sales" and frozen markets. His comments echoed those of ECB president Mario Draghi, who said on Thursday that interest rates in the euro area would remain low "for an extended period of time." Mr Coeuré"s warning came as Portugal's central bank chief admitted that many of the country's citizens felt that the country's €78bn (£67.2bn) bail-out had "failed." "There is in the population and among political agents a feeling of failure, that we missed the targets," said Carlos Costa, who also sits on the ECB's board. Pedro Passos Coelho, Portugal's prime minister, said on Thursday that his party had struck a preliminary deal with the junior CDS-PP partner in the ruling coalition. A deal will avert a government collapse in a week that has seen the resignation of two key ministers in protest at the country's austerity measures. Meanwhile, Olli Rehn, the European commissioner for economic and monetary affairs, said the next tranche of Greece's bail-out could be paid in instalments amid growing frustration with Athens" slow pace of reform. "It is possible, but not certain," Mr Rehn said on Friday. A separate report by the European Commission and the ECB showed that Spain's troubled lenders did not need further taxpayer support. The eurozone's fourth largest economy has so far received €41.3bn to recapitalise its banks.