Mario Draghi: Eurozone’s future at risk if prosperity does not spread November 27, 2014 Eurozone countries could start to consider leaving the currency union if prosperity does not spread across the area, European Central Bank boss Mario Draghi said yesterday. If countries such as Greece remain permanently less competitive than those like Finland, with higher unemployment and lower growth, “this threatens the essential cohesion of the union”, he said. Draghi [...]
Mario Draghi makes case for for economic union November 27, 2014 Mario Draghi has upped the rhetoric and made the strongest statement yet about creating economic union in the single currency zone. Speaking in Helsinki, the European Central Bank (ECB) president said existing powers, under the Stability and Growth Pact, do not go far enough. Draghi wants certain decisions about fiscal reform to be taken [...]
Economists are pessimistic over ECB purchases November 26, 2014 A EUROPEAN official yesterday hinted that controversial government bond purchases could begin early in 2015. However, economists remain pessimistic with regard to the size and scope of any future purchases. European Central Bank (ECB) vice president Vitor Constancio said policy makers would wait and see if current policies had any success in the first three [...]
ECB kicks off its asset-back securities purchase programme November 21, 2014 The European Central Bank (ECB) has kicked off its programme to buy asset-backed securities in an effort to stimulate the region's flagging economy. ECB chief Mario Draghi confirmed in September that the bank would start buying asset-backed securities in a programme slated to last "at least" two years. Because of the ECB's collateral rules, the [...]
Mario Draghi delivers dovish speech as inflation becomes ‘increasingly challenging’ November 21, 2014 European Central Bank (ECB) boss Mario Draghi has said the Bank will "do what we must to raise inflation and inflation expectations as fast as possible" across the eurozone, hinting a new round of monetary stimulus is on its way. At a conference in Frankfurt, Draghi suggested that if current policies fail to work, then the [...]
Mario Draghi: ECB could start buying government debt November 17, 2014 European stocks were buoyed yesterday as European Central Bank (ECB) chief Mario Draghi said the ECB was prepared to buy government bonds. The ECB has only bought private sector bonds thus far but buying government bonds offers any stimulus programme a much larger scope. “Other unconventional measures might entail the purchase of a variety of [...]
FTSE buoyed as Draghi speech reverses trend – London Report November 17, 2014 BRITAIN’S top share index turned positive late yesterday after European Central Bank president Mario Draghi said unconventional monetary policy measures could include buying sovereign bonds. Draghi also told the European Parliament the ECB will continue to do “whatever it takes” within its mandate to save the euro and that the single currency was irreversible. The [...]
Euro falls to two-year low on disappointing ECB speech November 6, 2014 The euro fell to its lowest level against the dollar in two years today after much-anticipated comments by European Central Bank (ECB) chief Mario Draghi disappointed markets. The currency dipped below $1.24 and fell to £1.27, before rallying slightly. Although European stocks spiked immediately after the speech, Germany's Dax closed down 0.92 per cent, while [...]
Why Draghi may opt against full QE – CNBC Comment November 3, 2014 As one major central bank – the US Federal Reserve – closes the quantitative easing door, markets are hoping that another – the European Central Bank (ECB) – will throw it wide open again. Many economists now expect that ECB president Mario Draghi will usher in a quantitative easing policy, involving buying up countries’ debt, [...]
ECB council member Ewald Nowotny: We cannot rule out quantitative easing in the Eurozone October 31, 2014 We cannot rule out quantitative easing in the Eurozone: that was the message European Central Bank governing council member Ewald Nowotny gave CNBC today. "I think that we have all learned in life that we should never say 'never',” Nowotny told the channel. Nowotny is generally considered a hawk, preferring the austere German methods of [...]