(AGI) – “In order to counter risks to our goal of price, first stability we have recalibrated our political position last December and then revealed another full set of measures in our last monetary policy meeting in March 2016 . in discussing our recent monetary policy measures, it is essential to take into account the overall context in which they were photographed. And ‘what he said Vitor Constancio, vice president of the ECB during the presentation of the 2015 annual Report of the ECB. “the context in we live in is characterized by limited growth, historically weak commercial developments and inflationary pressures that reflect sharp falls in energy prices. In the most recent developments we have been affected in particular the prospects for emerging markets that contribute to volatility in the global financial market in the second half of 2015 and again in February this year. In line with this global scenario, the ECB has done and, within its mandate, will continue to do whatever is necessary to pursue the objective of price stability, which now also involves trying to promote growth in order closing the negative output gap that is putting pressure on inflation. However, other policies must also act to provide a lasting and sustainable improvement in economic growth prospects. Such a common European effort should result in an action plan with three points. First, he is kept on the structural unemployment c he still suffers from ups and downs and has a low potential for euro area output growth. And ‘therefore essential to make our economic structures more efficient. Second, fiscal policy must play their role in economic recovery. Finally, we need a clear vision for the Economic and Monetary Union (EMU). I am aware of the fact that the policy focus is elsewhere right now. But leaving unfinished EMU too fragile and vulnerable we are unable to deal with future crises.
07/04/2016 12:45:03
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