Back
- or -
Email
Password
Sorry, we couldn't find those details.
Enter your email address:
Sorry, we couldn't find that email.
Register with MaltaToday now
Register below to start posting comments, receive SMS news alerts and subscribe to our newsletter.
or enter your details manually below...
First Name:
Last Name:
Email:
Password:
Hometown:
Birthday:
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 13:29
Chamber president David G. Curmi: ‘In the past, the government always dictated its business agenda to stakeholders in the industry. Th...
Business News 11:37
Over a period of one year, labour supply excluding part-timers increased by 3.4 per cent, reaching 168,288.
Business Comment 10:24
Business News 21-07
Scicluna: long-term stability in the pension system can only be achieved through sustained economic growth and good fiscal governance
Business News 21-07