MILAN – The loose monetary policy of the ECB “helps to support” the recovery in the eurozone, but also countries must give a “decisive contribution” . Writes the European Central Bank in the monthly bulletin, stressing: “It ‘important that the structural reforms are credible and effective to encourage investment and anticipate the recovery”. From Mario Draghi, therefore, comes a new invitation to politics because accompany your steps – in terms of monetary policy – dall’Eurotower. “It is important to ensure full compliance with the requirements of the Stability and Growth Pact and the rule of debt not to jeopardize the sustainability of public finances and maintain market confidence,” writes the ECB commenting on the economic measures of the government Renzi. Against the risks related to too long a period of low inflation, the Governing Council of the ECB “remains unanimous” in its efforts to put in place “more unconventional instruments as part of its mandate.” The risks to the economic outlook of the eurozone continue to be on the downside. It confirms the cut growth forecasts last week and it is explained that the weak growth in the eurozone, together with geopolitical risks, may inhibit private investment and erode trust. It also emphasizes the ECB, “insufficient progress” on structural reforms are “a significant downside risk.” A new alarm is looming meanwhile markets: “The Governing Council will continue to monitor closely Risks to the outlook for price in the medium term, “says the ECB. The Eurotower in particular “will look at the possible effects of the weakening of growth, by geopolitical developments, changes in exchange rates and energy prices, as well as the effects of monetary policy measures.” The board will hold a “particularly vigilant attitude with regard to the broader impact of the recent trend of oil prices on the dynamics of inflation in the medium term in the euro area.”
- Arguments:
- bce
- Oil
- reforms
- austerity
- Stability Pact
- European economic crisis
- Inflation
- Economic recovery
- Starring:
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