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This article was published March 16, 2015 at 19:50.
The last change is the March 16, 2015 at 20:24.
In the euro “is catching a sustained economic recovery,” and according to Mario Draghi, “we can rightly be optimistic about the prospects. ” ECB President spoke at a conference organized by the Sueddeutsche Zeitung in Frankfurt. “In business and consumer confidence is rising. Growth forecasts have been revised upwards. And the bank credit is improving both on the demand side than on the supply side. ”
However, Draghi added, “this does not mean that we can rest on our laurels. On the contrary, the recent recovery gives us a window of opportunity, with the conditions to push forward the reforms to make the euro area less brittle and more resilient to shocks. ” An ultra-loose monetary policy is not a disincentive for eurozone countries to pursue reforms. He said the ECB president Mario Draghi, pointing out that “monetary policy creates an incentive to make reforms.
The need for reforms
You have to “deal once and for all sources of fragility at the root,” added the president of the ECB. And ‘necessary to exploit the current economic recovery, which has helped the ECB. “We must proceed on two policies. First – continued Dragons – we have to move from integration to convergence, through structural reforms. Second, with governance reforms we have to go by rules to common institutions. “
” EU, need a quantum leap “
Euroland needs to make a leap forward , a true “quantum leap” (quantum leap) on the sharing of sovereignty, by means of common institutions. This was stated by ECB President Mario Draghi during a conference in Frankfurt. “And as part of this process we need to strengthen the democratic accountability of Europe to its citizens, which automatically would strengthen our political union.”
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