“The current, unacceptable level of unemployment (23% of young people aged between 15 and 24 have no job) goes against all notions of equity, is the greatest form of waste of resources, causes deterioration of human capital, affects the potential of economies by reducing their growth for the years to come". The alarm was sounded by the president of the ECB, Mario Draghi during a speech at a conference in memory of Federico Caffè organized by the Roma Tre University.
The number one of the Eurotower delivered a wide-ranging speech and was challenged by a hundred students who contested his presence at the conference. Moments of tension with the police arose.
Speaking of reforms, Draghi has once again launched an appeal to the governments of European countries that have long included renewal measures in their agendas but “reflection now gives way to action”.
Without structural reforms, "an expansionary monetary policy is not enough", continued the president of the ECB. The "monetary policy" actions put in place by the ECB are "accompanied by the expectation of maintaining interest rates at the current level for a long period of time and of continuing to expand the ECB's balance sheet. If all this were not enough, there is a commitment from the Board of Governors to undertake further unconventional monetary policy actions in the event that medium-term inflation expectations worsen or in the event that the measures already decided prove to be ineffective. insufficient in this sense".
As for the activity of the Eurotower, Draghi reiterated once again that with the measures already taken "the ECB budget will expand towards the level of March 2012 and that medium-term inflation expectations will return close to the target levels (lower but close at 2%, ed)".
