“Weak European banks should exit the market”. This was stated by the president of the European Central Bank, Mario Draghi, in an interview with the Swiss newspaper Neue Buercher Zeitung.
The identification of these institutions is one of the objectives of the examination of the sector launched in 2014 by the ECB, added Draghi, specifying that taxpayers' money will only be used "as a last resort" in bailouts.
The number one of Eurotower then underlined that "the first encouraging signs" are coming from the Eurozone economy, but we must avoid making too much of an effort with "overly optimistic forecasts", because the recovery "is still weak and the risk of setbacks it is still elevated.”
According to Draghi, the economy of the currency union has rediscovered the path of growth, but this expansion is not homogeneous among the various countries and the average unemployment rate, at 12%, is still too high.
The President of the BCA said he was reassured by the fact that growth is not based only on exports, but is also partly based on domestic demand. The results of the surveys are positive, as are the macroeconomic data, but in a more discontinuous manner. As is normal to happen after a period of profound crisis, concluded Draghi.
