Mario Draghi, President of the ECB, is now responding to questions from the press with key quotes, via Reuters, found below.
- Governing council discussions confirmed balance of risk.
- Acknowledgment of somewhat weaker momentum in discussions.
- Most euro zone countries still have positive output gaps.
- Talking about weaker momentum, not downturn.
- Some countries have pro-cyclical fiscal policies.
- Car sector in Germany having powerful effect on this quarter.
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About Mario Draghi
The European Central Bank’s president Mario Draghi was born in 1947 in Rome, Italy. Graduated of the Massachusetts Institute of Technology (MIT), Draghi became the president of the European Central Bank in 2011. As part of his job in the Governing Council he gives press conferences in the back of how the ECB observes the current European economy. President’s comments may determine positive or negative the Euro’s trend in the short-term. Usually, if he shows a hawkish outlook, that is seen as positive (or bullish) for the EUR, while a dovish is seen as negative (or bearish).
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