“There ‘purchase of government bonds that takes”, the pressure on countries to make reforms is linked’ ‘to will of an enlightened and inspired leadership ” and ” Renzi is an inspired leader ”. So OECD Secretary General José Ángel Gurría responds to those who ask the ‘duel’ on the effect that the decision of the ECB will have to push reforms or not .
The euro countries have to make reforms in the future, “as part of a real economic union” . He says the ECB president Mario Draghi, in a speech on the German magazine Wirtschaftswoche, according to an advance.
“A monetary policy geared to price stability in the eurozone, can not react to shocks affecting one country or one region, “said Draghi. This requires a stronger unity of economic policy. As a concrete example, ECB President cites the planned union of the capital markets, which must be quickly brought forward.
“When the lack of reforms leads to lasting divergences within the monetary union – he adds – , we arrive at the spectrum output of a country , and this eventually suffer all member countries . “
” If economic union obliges governments to make reforms, makes it credible that the member countries can really, through growth, overcome their debts “.
Meanwhile after the move of the ECB, is the clash between the governor Visco Italian and German Weidmann. The governor of the Bank of Italy escape the doubts that the operation of the ECB will hold back the reforms. With the President of the Deutsche Bundesbank Jens Weidmann missing tune on the effects that the decision will have on Italy and France. READ
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