By Emese Bartha 

Europe should use the current economic situation to carry out reforms, said UBS Chairman Axel Weber in a preview of an interview to be published by Handelsblatt on Monday.

Mr. Weber, formerly president of the Bundesbank, recommends that the reforms should focus on the labor market, tax system, social benefits and education, adding that "the structural problems in Europe can't be solved with monetary policy."

Mr. Weber said there is too much talk about debt reduction and central banks' monetary-policy measures and too little about structural reforms.

"I was and I'm of the view that the European Central Bank as central bank isn't in the situation to solve these problems alone and they are also not its tasks," Mr. Weber said.

   Write to Emese Bartha at emese.bartha@wsj.com