ECB’s Draghi Says Euro Zone at Risk of Lasting Economic Damage

June 9, 2016 Share Print 0

Years of weak growth have eroded euro zone productivity, raising the risk of permanent damage to its economic health, the European Central Bank’s president said on Thursday, underscoring his argument that monetary policy alone cannot end the bloc’s economic malady.

“There are many understandable political reasons to delay structural reform, but there are few good economic ones. The cost of delay is simply too high,” Mario Draghi told the Brussels Economic Forum.

Reuters

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Craig Erlam

Senior Market Analyst, UK & EMEA at OANDA

Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.