2 Oct 2014
ECB's Draghi: New measures won't work if not accompanied by structural reforms
FXStreet (Łódź) - ECB head explains that the new the measures were taken in order to counter the damaging effects of keeping rates at low levels for an extended period of time.
• Draghi refuses to answer how much the ECB would like to expand its balance sheet.
• The ECB's mandate is to bring inflation close to 2%, he stresses.
• Draghi also emphasizes that measures won't work without actions from national governments, implementation of structural reforms.
• "Problems are not only structural. Unemployment is high. Unutilized capacity is sizeable. There is a need for demand policies."
• Italy's govenment to balme for the country's problems.
• Draghi refuses to answer how much the ECB would like to expand its balance sheet.
• The ECB's mandate is to bring inflation close to 2%, he stresses.
• Draghi also emphasizes that measures won't work without actions from national governments, implementation of structural reforms.
• "Problems are not only structural. Unemployment is high. Unutilized capacity is sizeable. There is a need for demand policies."
• Italy's govenment to balme for the country's problems.