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.
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.
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.
Less than 4 years ago, and shortly after his infamous "whatever it takes" threat to speculators, Mario Draghi responded to a question from Zero Hedge readers, saying "there is no Plan B" when it comes to contingency plans for a Eurozone nation leaving the monetary union.
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.
The European Central Bank’s second round of long-term loans came in at the low end of analysts’ estimates Thursday, bolstering the case for the institution to start large-scale quantitative easing.
The Frankfurt-based ECB said it allotted 130 billion euros (US$161 billion) to euro-area banks at a fixed interest rate of 0.15 per cent in its targeted longer-term refinancing operation. Estimates in a Bloomberg News survey ranged from 90 billion euros to 250 billion euros, with a median of 148 billion euros.