The protests cross the threshold of the Eurotower and break into the temple of European monetary policy. Under the eyes of reporters, at the press conference that has just begun, the president of the ECB was targeted by a Blockupy activist who threw confetti at him, bypassing the microphones on the desk and occupying Draghi's position. "Stop the dictatorship of the ECB", the protester, a twenty-year-old in a black T-shirt with the words "End the ECB dictatorship" asked in English. She that she was immediately hunted down by security and removed.
The press conference was briefly interrupted and then resumed with Mario Draghi who, after the initial and understandable scare, appeared surprised but not at all shaken or tense, on the contrary reacting with his usual relaxed aplomb. “Luckily I have my speech with me – he said trying to pick up the thread – otherwise I would have had to improvise. Let's start over, indeed let's start again with positive tones".
And the positive tones are that the measures of the ECB, which launched a month ago the 60 billion per month securities purchase plan (Qe) and that today it kept interest rates unchanged at 0,05%, they are effective and that the recovery in the Eurozone is accelerating. “The most recent indicators show it – he explained – the risks are more balanced”. Inflation will be on the rise at the end of the year and the measures will help consumer prices rise close to but below 2%.
Despite the improvements in the economic situation, Draghi reassured that Qe must be carried forward fully and that the purchase plan is proceeding well, which is reflected in the easing of financing conditions and costs and in the increase in credit to businesses and households. Indeed, Draghi said he was surprised by the questions about Qe which "has just begun". A program which, Draghi specified, has no problems of shortage of titles and is very flexible and can be interrupted whenever you want.
At the same time, he came back to ask that labor market reforms and actions to improve the business environment are accelerated by governments.
The president of the Eurotower it also sweeps away the Grexit hypothesis which had regained altitude in recent days. “I don't even want to consider this hypothesis,” he said in response to a reporter's questions about the possibility of a Greek default on international creditors. According to what the Greek government says, he added, they don't even consider it.
