Draghi remains confident about eurozone economy

The first signs of an impending global financial crisis were clear long before Lehamn Brothers collapsed, European Central Bank (ECB) President Mario Draghi said on Thursday.

Speaking at a post-policy meeting press conference in Frankfurt, Draghi told reporters: “For us, the crisis actually started before Lehman. The first serious signs of an impending crisis actually date back to September 2007.”

“What I remember of that incident was the extraordinary effort of international cooperation at world level. In other words, even before Lehman it was quite clear that the financial crisis was coming. And it would have unprecedented proportions and was worldwide,” he added.

CNBC

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.