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Home / Business / Mario Draghi's last big move as President of the European Central Bank – Axios

Mario Draghi's last big move as President of the European Central Bank – Axios



What they say: "Lower interest rates and QE are unlikely to have much impact on the eurozone. Draghi knows that," Joseph Trevisani, senior analyst at FXStreet, told Axios in an email. "By blaming the government for inaction, he distracts (as much as possible) from the likely failure of the ECB stimulus."

The big picture: Draghi's "what is needed" mantra has been credited for saving the eurozone, Europe and the euro currency, as the central bank has taken unprecedented steps to bring the economy to life over the 8 years that manager.

  • However, it has largely failed to generate inflation and let the eurozone economies stand on their own.
  • Draghi effectively conceded just as much on Thursday, asking politicians to take the reins and administer fiscal stimulus to help advance their respective economies.
  • But he is still pushing forward with exceptional measures, reportedly in the face of outstanding dissent from the influential central bank governors in Germany, France, the Netherlands, Austria and Estonia, among others.

Be smart: "The central banks are dishonest to admit the limits of monetary policy separately, but that's more or less where we think the ECB is," said Deutsche Bank chief executive of the UK, economist Mark Wall and senior UK economist Peter Sidorov in a note to clients.

Where it says: [19459004DraguetestandalsoplacedbytheEuropeanconsumerbankerswithinforthepaymentofthefinancialcontactandbanksfromtheconcentrationoftheBankingsoftheBankingsoftheBankingsthe

The big question: Will it actually be a sustainable solution to the underlying problems?

  • "Oh, no," Jones says with a hearty laugh. "The problem is demand and how to stimulate demand in a world of aging populations, demographic challenges, a downturn in China, a trade war, all the things that real monetary policy can't solve. They can only address what they can absorb."

Go deeper: ECB likes inflation now


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