Draghi Says ECB Has Won Time Now Governments Must Deliver Reforms

December 10, 2013 Share Print 0

European Central Bank President Mario Draghi called on national governments to deliver economic reforms and complete a banking union, saying the ECB had won time for action by delivering price stability over the past 15 years.

“It is now crucial to complete this agenda at the European and national level,” he said in a speech at a conference in Rome on Tuesday, adding that governments should focus on key reform priorities: “completing the banking union, implementing growth-friendly fiscal consolidation, and structural reforms in labor and product markets”.

Draghi said the ECB had to keep public trust by sticking to its mandate of delivering price stability and dismissed concern that low inflation threatened to pitch Europe into a Japanese-style deflationary cycle.

via Reuters

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Alfonso Esparza

Senior Currency Analyst at Market Pulse

Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.