“It’s pointless to bet against the euro, if you want to do it well.” This was stated by the president of the ECB, Mario Draghi, ensuring repeat “word for word” what was said in 2012, when I declare that the euro is irreversible and that the institute in Frankfurt it would defend at all costs.
recovery in the euro has started and is wider and stronger than in the past, said Draghi still speaking in Washington during a press conference at the International Monetary Fund (IMF), and stressing that to push the recovery are the low prices oil and monetary policy decisions.
The economic risks have decreased but remain bearish, continued ECB President. “Without progress on fiscal sustainability and structural reforms risks could increase again,” he added.
“Monetary policy can foster a cyclical recovery, but not a structural recovery. For the latter need structural reforms, “said Draghi again.
” low rates for a long time are ground to give birth to financial imbalances. We are aware and remain alert “, noted the number one of the ECB, noting that the beginning of the recovery in the eurozone is driven by domestic consumption. Inflation expectations have improved, but inflation for a few months this year is low or negative.
It is premature to speculate about a Greek exit from the euro would be better to have Greece in good greets, but now “we are better equipped than in 2012 and 2010,” he stressed the ECB president, noting that the instruments of the ECB may be used, if necessary, in an eventual Greek crisis.
“All we want Greece to be successful, and this success is in the hands of the government greek,” then reiterated Dragons.
As for Greece, he said, “the priority is to restore a process political dialogue and that they work well. ” What is needed is “a package of strong policies that ensure a strong recovery, justice, and fiscal and financial stability.”
“The Eurozone banks are now healthier and better able to convey the decisions monetary policy to the real economy, “he said finally Dragons.
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