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.
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.
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.
Financial Times reports that the Swiss franc has decreased to its lowest rates in more than a year after investors used the moment of improved economic environment in Europe to leave the popular financial heaven during the debt crisis. The depreciation of the franc was one of the largest since 2011 when the Swiss National Bank interfered in currency markets in attempt to save Swiss exporters from large investments into the country by foreign investors.