‘ECB cannot single-handedly create the conditions for growth’ - Draghi
Investing.com
Published Apr 07, 2016 10:18AM ET
Investigating.com – European Central Bank (ECB) president Mario Draghi once again urged governments to act to make the recovery sustainable and accelerate growth, warning that the euro area monetary authority could not act alone.
“The current economic recovery needs to be further supported by policymakers taking decisive action,” Draghi said in a speech delivered Thursday at the Portuguese Council of State in Lisbon.
“In this respect, all actors need to play their role and European institutions must do so as well by delivering on the objectives that have been assigned to them as part of their mandates,” he added.
Draghi emphasized the need for policymakers to take action by explaining that “the ECB cannot single-handedly create the conditions for a sustainable recovery in growth”.
The ECB chief finished his speech by insisting that political leaders are responsible for fixing the “weak spots in our construction” via risk reduction and risk sharing, both as regards the financial sector and as regards economic fiscal policies.
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Written By: Investing.com
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