Draghi: Towards shooting more stable and strong – We Romagna

27 / March / 2015 – h. 00:26

There are signs that “the recovery, until now weak and irregular purchases strength and stability.” He said the ECB president, Mario Draghi, during a hearing before the commission gathered Budget, Finance and European Union Policies in House. The conditions of the eurozone are “more favorable than in recent years,” he added. Monetary policy, said the central banker, alone “can not increase the production potential, because this depends on the economic potential, or by the structural rforme”. Eurozone, said Draghi, “structural reforms, albeit with different speeds and intensity, they begin to make their effects.”

“ITALY WAS WORSE BEFORE THE EURO”. Italy’s economic growth had “softened” already well before entering the euro, said Draghi. “In many countries of the potential growth had already damped before the euro: in Italy by 2.5 per cent per annum of the early 90s had dropped to 1.5 percent in 1999, and today the International Monetary Fund estimates that it is zero, “said the central banker. “The spread of 500 basis points paid by Italy with respect to the Bund in the worst moments of the crisis of 2011 and 2012 was exactly what Italians have paid for 15 years on average before the introduction of the euro,” he stressed again the number one of the ECB.