The time is not yet ripe for Eurobonds, word of Mario Draghi, interviewed by the newspaper Bild, who tries to curb the drive towards European integration after announced yesterday that the worst part of the crisis is over. The central banker doesn't like to think of Europe as a lender: confidence and budget rigor are now preferable to Eurobonds and aid. For this Draghi has indicated the fiscal compact as a "right" measure.
Draghi also focused on Greece. He did not rule out the possibility that Greece needed new aid, but first "it will be necessary to check whether the reforms that have been approved will become operational". Instead, he was categorical regarding Athens' exit from the Eurozone. It would be an eventuality that "would lead to strong inflationary pressures in Greece and undermine investor confidence for many years to come".
