This was stated by the governor of the European Central Bank ” The current recovery, which began almost two years ago, is taking hold more firmly. ” “The purchases of government bonds by the ECB will continue until September 2016″
New York, April 18, 2015 – “The economic situation and the outlook for the short term in Area euro are currently the brightest than they have been for several years. ” The or says Mario Draghi, the governor of the European Central Bank, in his speech at the International Monetary and Financial Committee filed (IMFC), the operational arm of the International Monetary Fund.
According to Draghi, there are various factors that lead to believe that the “weak recovery and unbalanced lived until now will gain strength and breadth” : the determination of the ECB in achieving its mandate on price stability, the strengthening of the financial sector, the accommodative macroeconomic policies, fiscal policies and strong determination on the part of governments to pursue structural reforms of the Area €. These factors “should allow the Area € embarking on a course of sustainable growth in a context of price stability.”
Draghi says that “the current recovery, which began almost two years ago, is taking hold more firmly” . It “will strengthen gradually” but “will continue to be slowed by the necessary fiscal adjustment in a number of sectors and the slow pace with which the structural reforms are implemented.”
And the risks related to the Outlook for the eurozone growth, while continuing to be downward, “have become more balanced thanks to recent decisions Monetary Policy (March 9 has launched a plan to purchase bonds from 60 billion euro a month that will go on until at least September 2016, ed), the drop in oil prices and a lower euro exchange rate. ” In fact, purchases of government bonds by the ECB, ‘quantitative easing’, will go up to “in September 2016 and in any case will continue until the board will not see a sustained adjustment of inflation in line with our goal of a rate close to 2% in the medium term. “
The member countries of the Area € must nevertheless do their part says Draghi. “Many nations are still coming to terms with significant challenges on consolidation to reduce the high debt and to ensure fiscal sustainability.” Sharing the view taken by the International Monetary Fund in its Fiscal Monitor, namely that the good economic times before the crisis have not been used enough from advanced economies to build sufficient bearings tax, Draghi said that now “the countries of the euro should make sufficient progress towards the medium term budgetary objectives “.
In addition to fiscal policy, for Draghi is important to continue to implement structural reforms , which “are not simply in the interest of individual countries, but they are also the key to strengthening the resistance and ensure smooth functioning of economic and monetary union and to support growth globally. “
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