"If necessary, we are ready to act." To say it is the president of the European Central Bank Mario Draghi during a conference organized by the Bank of Israel in Jerusalem. The weapons available to the ECB, whose monetary policy will remain accommodating throughout the crisis, are obviously interest rates, but also less conventional measures.
Draghi then spoke about the current situation, which he indicates a gradual recovery starting, however, from very low levels. For the short-term future, the ECB president expects an improvement in exports, driven by a more favorable international situation, and in domestic consumption, supported by the accommodating policy of the Eurotower.
Lastly, Draghi pointed the finger at the weakness of the European labor market: “Unemployment has reached unacceptable levels in the countries of the Eurozoneespecially for young people".
