VISION NEEDED: Mario Draghi, head of the European Central Bank, said Thursday that the 17-country euro currency union is unsustainable in its current form. He told EU leaders they must quickly come up with a broad vision for the future to get the bloc through the current financial crisis.
Brussels (AFP) - The euro was supposed to be "irreversible", binding the EU ever closer, but the draconian terms demanded of Greece for a new bailout may have destroyed that illusion forever, analysts said Monday.
Emerging-market policy makers breathed a sigh of relief after the Federal Reserve left its asset-purchase program in full throttle this week. That much is obvious. What isn’t? That a certain central banker in Frankfurt also likely exhaled ever so slightly — Mario Draghi.
SINTRA (PORTUGAL): European Central Bank head Mario Draghi said that ``growth is too low everywhere'' in Europe despite a modest recovery. Draghi made the blunt remark as he opened a conference on the unemployment problem plaguing the 19 members of the European Union that share the euro currency. ``Recently, economic conditions have improved somewhat in Europe,'' he said at the ECB's conference on inflation and unemployment in Sintra, Portugal.
Berlin (AFP) - The eurozone faces a growing risk of unstable prices, the head of the European Central Bank said in an interview published Friday, at a time when concerns are mounting the bloc could slip into deflation.