Draghi, now Qe push on consumption and investment – ANSA.it

The quantitative easing will remain standing for as long as necessary. And now it has to push consumption and investment. Mario Draghi reassures the commitment of the ECB to support the established ‘prices and the economy. He says the unconventional measures have proved ” powerful ” but ” it is still too early to declare victory ”. Dragons comes to Washington, host of the IMF. An opportunity, that of visiting American, who offers him the opportunity to meet with the general manager of the Fund, Christine Lagarde, and with the US Treasury Secretary, Jack Lew. Two appointments to make probably the developments in the Eurozone and the crisis in Greece. Just as Lagarde, Draghi collects a declaration of support almost unconditional, after the ‘clutches’ remote that preceded the launch of bond purchases by the ECB. ” Few have demonstrated leadership as Draghi. Mario your job is one of the hardest ” Lagarde said, in front of the public spoke for ‘Camdessus Lecture’. Dragons – Lagarde adds – is a man of ” exceptional insight, fierce determination and above all courage ”. Saying he was concerned about the slow growth in employment and the increase in inequality, Lagarde welcomed the monetary policy that, while it is essential for growth, on the other ” not enough ” and must be accompanied by ‘ ‘structural reforms” and ” fiscal consolidation ”. All this to prevent the ‘new poor’ ‘, or low growth for a long time to materialize. The monetary policy of low interest rates – said Draghi taking the word – involves ” inevitable ” risks such as a possible inequitable allocation of resources. Risks that need to be monitored even though at the time, despite the visible effects of interest rates and the bags, ” there are no indications that are emerging imbalances generalized ”. The measures of the ECB have had a ” substantial effect ” on asset prices and economic confidence, now we need to see the ” same effects on, investment, consumption and inflation ”. ” After nearly seven years of a debilitating sequence of crisis, families and companies are reluctant to take economic risks. For this it needs time before you can claim victory and our stimulus of monetary policy will remain standing for the time necessary so that its objectives are fully centered on a truly sustainable basis ”. ” The structural reforms that increase the confidence in the economic outlook and encourage investors to capitalize on financing conditions accommodative make our policy more powerful ” highlights Draghi. Left the microphone and lectern, Draghi always on stage you let ‘interviewed’ by Lagarde, giving the public a single question: in it is the IMF’s chief economist, Olivier Blanchard, who has announced his farewell to the IMF in September. Dragons – responding to Lagarde – highlights too many national discretion, especially in defining the capital of banks and non-performing loans, calls for a ” roadmap ” for greater homogeneity ‘, even in the extremely fragmented market of mortgages, and defends European stress tests ” are much improved ”.

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