He spoke today at the World Economic Forum in Davos, Switzerland the president of the ECB Mario Draghi: "The spread – the former number one of Bank of Italy told the press – they have always been a powerful engine for the reforms of various governments. Countries must therefore take the necessary measures for recovery. How much for years spreads previously underestimated the risk of government debts, so much they are now abbastanza overdoing it and this could go on for some time".
However, Draghi also recognized the important efforts made by the eurozone to deal with the crisis: “The amount of progress is exceptional. If we look at five months ago, the euro area is another world”. And then, the recipe, already expressed several times: "A fiscal union like the one Europe could achieve on the basis of the 'fiscal compact' - added the president of the ECB - does not start with the sharing of risks between countries, but by internal measures that restore “confidence” in some euro countries".
