International collaboration is the only way to solve problems that are too big for countries to tackle alone, Mario Draghi told an awards ceremony Monday in Turin.
Today’s situation offers frequent reminders of the dark days of the past, the European Central Bank (ECB) President said, as he collected the 2016 Cavour Prize for – in the words of the Cavour Foundation – having maintained the central bank’s independence in the face of challenges while implementing measures to boost growth and deflect deflation.
Draghi turned to Camillo Cavour, a key figure in Italy’s late 19th century unification and after whom the prize was named, to invoke the spirit of unity.
According to the ECB chief, Cavour’s love of Italy was so strong that he never stopped believing that his country needed Europe to grow, progress and improve.
Cavour’s relationship with Europe, continued Draghi, was founded on a solidarity stemming from recognition of the mutual benefits and responsibilities of the independent nation states toward one another.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.