Saturday, October 3, 2015

Draghi: “Growth is coming back” – Il Sole 24 Ore

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This article was published on Oct. 3, 2015 at 8:11.

NEW YORK

It’s from New York that Mario Draghi, just before leaving for Lima and for the annual meetings of the IMF / Bank World next week, wanted to give a message “loud” and framework for its European counterparts, the finance ministers and central bankers that will confuse the international controversy about immigrants and refugees with the stability ‘of the economic machine.

What Draghi, awarded by the Atlantic Council, was a strong message to an audience that included exceptional addition to the Vice President of the United States Joe Biden also influential thinkers of roles and European methods as Henry Kissinger and the director of the IMF, Christine Lagarde: “Europe is returning to growth”, “progress in the last three years are real, the way is clearly indicated and do not come back until the integration monetary union will not be completed and the European cohesion will not be achieved. ” Then a historical context to give the idea of ​​the work done: “When the integrity of the euro was in danger – said Dragons – it was also the world prosperity. It can bear witness Christine Lagarde, who chaired several meetings of the IMF in which the first topic under discussion was the euro area. Similarly, the return of the economy on a path of sustainable growth under the impulse of our monetary policy, it is good news for everyone, anywhere in the world. ” These are the words of Draghi certain optimistic and have turned to a collection pit by the Atlantic Council for its annual dinner that among the many notables, with strong ability to influence not only for the US but for the international context, included the ‘ former head of National Security Brent Scowcroft at the time of Bush, the former number two in the State Department Bob Hormatz, Larry Fink, head of BlackRock, Colombian President Juan Manuel Santos, the President of Croatia Kolinda Grabar Kitarovic, former Polish President Alexander Kawsniewski. Strong words those necessary Draghi, because between the lines is that Biden Kissinger made it clear that he still has some doubts about the real progress of European integration as “Union”.

That was just around the concept of Union Dragons who built his message. “The European Union in our divided world is the most advanced experiment to hold together people and cultures often very different. The destiny of Europe is of course of immediate interest to its citizens. But also it has direct relevance to the rest of the world. The European Union and its monetary union are regional projects with global implications. ” And then, borrowing a phrase dear to Americans, Draghi said that “you have to work for a more perfect union,” a speech almost more political than economic, perhaps to make it clear to Henry Kissinger, over ninety years and shiny full of energy, who said: “There is a phone number for Europe” that number is now really and leads directly to the ECB’s Mario Draghi.

The ECB President recalled the size in the global economy: “Although he has not made a significant contribution to global growth in the last 7-8 years – he continued – the euro area is still 17% of GDP and 16 % interchange worldwide. When the integrity of the euro is in danger, it was also the world prosperity, “said Draghi.

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