Back
Register for SMS Alerts
or enter your details manually below...
First Name:
Last Name:
Email:
Password:
Hometown:
Birthday:
Sorry, we couldn't find that email.
Existing users
Email
Password
Sorry, we couldn't find those details.
Enter Email
Sorry, we couldn't find that email.

ECB chief Mario Draghi says worst of debt crisis in Europe ‘is over’

European Central Bank President Mario Draghi said the worst of the sovereign debt crisis is over, Germany’s Bild newspaper reported, citing an interview.

Karl Stagno-Navarra
22 March 2012, 12:00am
European Central Banch President Mario Draghi
"The worst is over, but there are still risks," Draghi was quoted as saying. "The situation has stabilized. The important indicators for the euro zone, like inflation, current account and above all the budget deficits, are better than, for example, in the United States."

Investor confidence has returned and "the ball is now with governments," Draghi said, according to Bild. "They must sustainably secure the euro zone against crises."

Draghi also said Germany is a "role model" in Europe, and the ECB's 23-member Governing Council, which contains two Germans, has "internalized" Germany's stability culture, Bild reported. Draghi shares Bundesbank President Jens Weidmann's concerns about the risks the ECB has taken and there is no north-south divide on the council, the newspaper said.

If the inflation outlook worsens, the ECB "will immediately act pre-emptively," Draghi said, according to Bild. However, if oil and tax increases are taken into account, inflation remains stable at around 1.5 percent, he said. The ECB's lending to banks won't fuel inflation, Draghi was quoted as saying.

 

Alex Grech
Your are dreaming Mr Draghi
Latest Business News
Business News 15:51
Temporary suspension of Cyprus exploratory drilling activity negatively affects Medserv interim results
Business News 13:58
MEA bemoans higher rental costs and displays of ostentatious consumption by wealthy foreigners that are increasing feeling of relative pover...
Law Report 12:30
An application for structural alterations together with a roof extension on a property in Triq is-Sirena, Senglea, was refused by the Enviro...
Business News 11:56
Between January and July of 2016, the government’s consolidated fund registered a deficit of €141 million
Business News 26-08
In the first quarter of 2016, unemployment dropped by 15% when compared with fourth quarter 2015
follow us on facebook