Why Mario Draghi to arouse so many passions?
He’s an economist who talks about the strict thing of difficult concepts, perform dried up up and the way he moves minimally. With, at his right mouth might go up a little bit.
Still, Mms is hated and admired. It explains, inter alia, his name set up numerous Twitter pilati hostels. Meanwhile, do the above for example, the EU council president Donald Tusk , German chancellor Angela Merkel or the French president Emmanuel Macron . EU commission president Jean-Claude Juncker parody accounts is roughly as much.
draghi’s eight-year-old through the head of the ECB expires at the end of October. His parting their party on Monday afternoon the central bank headquarters in Frankfurt.
talking about are so Merkel and Macron as the Italian president of Sergio Mattarella and Mms ECB president, following the French Christine lagarde, too .
the executive Director is an important person, because he leads the EU’s only fully supranational institutions. The bank decides independently on all of us affecting monetary policy, and it didn’t even get to listen to the decisions of the member states politicians.
Various social media channels is draghi’s name made to parody accounts.Twitter indebtedness of the state was saved
Draghi muistetuimmat act is likely to be the fact that he moved to the central bank the course of the EU debt crisis years. In his time the ECB’s balance sheet swelled huge securities purchase programmes. Europe switched to negative interest rates.
Draghi announced immediately after taking office, 2012, that the ECB “will do everything what is needed” to save the euro. He stressed on that, believe me, there is a yes in store in sufficient quantities.
Opinion considered to assure the market that began to look forward to the promise of redemption.
In 2015, the ECB running monetary stimulus. Now the bank has purchased the securities from the market in the range of approximately 3 000 billion euros. The new repurchase program will begin in November.
central bank stimulus has helped, for example Italy, whose government bond interest rates fell. Without the bond, the buyer of the crisis would have been in Southern Europe, probably a lot deeper than it eventually was.
the ECB’s defence of the opinion of the central bank is given the EU and its member states room for manoeuvre in a difficult situation. According to them, Draghi made the ECB the modern bank. (you move to another service)
Italian president Carlo Ciampi and the Italian central bank’s new president Mario Draghi posing for the cameras in Rome in December 2005. Before the director general of their Draghi work of the american Goldman Sachs -commercial bank executive board as deputy chairman and as a board member.Enrico Schmaltz / EPA
Draghi observed during the unconventional monetary policy has shown that the central bank is able to affect the euro area countries, output and employment changes.
on the other Hand, means you has now been exhausted. Interest rate in the beginning to have a base there, but consumer price growth lags yet, the objectives behind. The ECB’s main objective is to keep inflation in less than two percent.
draghi’s successor will have to cheer for euro economy in new ways. Christine Lagarde has promised among other things to popularize the central bank uses the language.
the Critics are gonna freak out the
draghi’s criticism has intensified (you move to another service) his power the last few months.
for Example, six former ECB director of publications at the beginning of October in a letter (you move to another service), where they criticize the bank in September started by a new sovereign debt purchase program. In their opinion, the decision undermines the independence of the bank, in addition, that it, inter alia, to keep on the verge of bankruptcy bobs companies alive artificially.
the central bank, the German leaders have also marched Draghi-led ECB out one after the other (you move to another service). The germans sick and tired of the ECB’s change to the euro rich 20 years of existence.
in the German economic tradition the central bank, Bundesbankilla, has been very carefully guarded independence in relation to political decision-makers. Independence watch Draghi in murentuneen.
the Assessment is that the ECB gave monetary support has slowed the state’s economy of reform. When the central bank has pushed the economy with money to buy-through its programmes, the member states have not had to make difficult decisions. The central bank and the member states in the linkage is confirmed.
“the member countries of the cooperation is required”
Draghi to leave the place more or less in the same mood as its predecessor, a French Jean-Claude Trichet – requires the member states to make deeper cooperation in financial policy.
the monetary policy needed to support long-term economic policy, where the termination is for elected governments to do. Support does not just come.
the Structural reforms are lagging in the member states do and state economies surplus is expanded instead of that they should be used, for example, infrastructure to improve or boost consumer spending.
Draghi believes the euro area have its own budget. The euro area is therefore a special economic area, that 19 member states have a common currency, but the national budget.
– All successful monetary unions to connect to a centralized financial instrument – what is therefore needed is a joint budget or some kind of insurance system, Draghi encouraged in the last monetary policy press conference on Thursday.
the Euro countries have already designed their own budget, but it has shrunk clearly in the original plans for the smaller (you move to another service) member countries because there is disagreement.
“Draghi-Dracula sucking our money”
the ECB’s problem is that monetary policy that is suitable for Italy, Spain or Greece, I’ve got heartburn further north.
the Negative deposit rate is detrimental to the saving of the fathers to the germans, who have the habit of laying up money in their account. Bild magazine comparison was Mms even Draculaan (you move to another service), which absorbs the German accounts are empty.
for Example, in the Netherlands, pensions are dependent on the level of interest rates, and if it is a long time in the frosty, pensions endanger (you move to another service).
in This English differs from German and Dutch. The Finnish low interest rate policy has so far not been harmed. On the contrary, we have enjoyed cheap housing loans. Unlike in the euro area in general, the Finnish perception of the ECB’s crisis in the euro barometer, only improved.
Draghi to discuss germany’s Angela Merkel and Italian prime minister Mario Monti with EU summit in 2012. The agenda was already, as usual, the economic and monetary union deepening.Olivier Hoslet / EPA
draghi’s successor will have to juggle a very uncertain economic outlook, with.
trade wars threaten the world economy, britain in the EU-the difference between the brexit can follow the chaos, climate change requires action and the immigration crisis could get worse at any time. The Italian economy is a big risk, which can at worst cause the euro crisis.
Perhaps draghi through the ice “I’ll do anything” -starting a statement in addition to life advice, which he gave to his successor mrs lagarde Thursday’s news conference:
– don’t ever give up.
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