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
Technology 23-09
The class four licence issued by the MGA will enable Zitro to offer its games to online casino firms around the world
Business News 23-09
The number of unemployed people in Malta has fallen  by 1,460 people in August this year when compared to the same month of 2015, reach...
Technology 23-09
The Malta Information Technology Agency, together with digital services minister Emmanuel Mallia launch cyber security strategy, but insist ...
Business News 23-09
New scheme will offer financial loans at low interest rates for SMEs and start-ups
Business Comment 23-09
Financial markets rallied in unison around the world on Thursday
follow us on facebook