ECB Draghi Asks for International Collaboration

January 23, 2017 Share Print 0

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.

via CNBC

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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.