Keyword: mariodraghi

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  • Falling inflation a worry for Europe but also the world

    11/23/2014 6:55:14 PM PST · by Tolerance Sucks Rocks · 60 replies
    Reuters ^ | November 23, 2014 | Ross Finley
    (Reuters) - European Central Bank President Mario Draghi has moved closer to launching sovereign debt purchases and data this week will show just how dangerously low inflation has fallen in the $13 trillion euro zone economy. A sickly Europe has held back global economic growth for years, and now it is contributing significantly to powerful forces already dragging down inflation across the globe. A spectacular drop in crude oil prices over the past month will be the center of discussion when ministers from the world's top oil exporters meets in Vienna on Friday.
  • France and Friends: Merkel Increasingly Isolated on Austerity

    09/06/2014 4:20:58 AM PDT · by Olog-hai · 13 replies
    Der Spiegel ^ | September 03, 2014 – 04:41 PM | Nikolaus Blome, Ralf Neukirch, Christian Reiermann, Mathieu von Rohr and Christoph Schult
    The debate over Germany’s insistence on eurozone austerity has flared anew as an ailing France continues to demand economic stimulus. The European Central Bank may now be siding with Paris, leaving Merkel looking increasingly alone. […] Berlin is particularly alarmed by the stance taken by ECB head Mario Draghi. At the annual conference of top central bankers from around the world at Jackson Hole, Wyoming in August, Draghi surprised those present by saying “there is leeway to achieve a more growth-friendly composition of fiscal policies.” It was a comment that came close to the kind of debt-fueled growth stimulus measures...
  • Weapon of Last Resort: ECB Considers Possible Deflation Measures (European Central Bank)

    04/23/2014 7:01:40 PM PDT · by Olog-hai · 1 replies
    Der Spiegel ^ | April 23, 2014 – 06:18 PM | Christian Reiermann and Anne Seith
    One of European Central Bank President Mario Draghi’s most important duties is watching his mouth. One ill-considered utterance is enough to sow panic on the financial markets. But during a press conference earlier this month, Draghi allowed himself a telling slip. Speaking to gathered journalists at the Spring Meetings of the International Monetary Fund and the World Bank, Draghi twice almost uttered a word he has been at pains to avoid. “Defla…”, Draghi began, before stopping himself and continuing with the term “low inflation.”Yet despite Draghi’s efforts, the specter of deflation was omnipresent in Washington during the meetings. And it...
  • No Big Deal: Italian Bank Hid Derivative Losses

    01/26/2013 8:54:11 AM PST · by Kaslin · 2 replies
    Townhall.com ^ | January 26, 2013 | Mike Shedlock
    When Mario Draghi (now ECB President), had oversight of the Italian bank system as Bank of Italy Governor, the Italian bank Monte dei Paschi di Siena (Italy's third largest bank) hid information on the derivatives transactions between 2006 and 2009. This information is just now out, and shares of the bank have plunged 22% in a few days. Mario Draghi ought to be under fire, but he says it's a "Matter for the Italian Authorities". The Mish translation is "It's a Matter for the Italian Authorities, to Sweep Under the Rug". With that backdrop, let's take a look at the...
  • ECB: Crisis nations have lost their sovereignty

    10/28/2012 9:13:38 PM PDT · by Olog-hai · 7 replies
    TheLocal.de ^ | 28 Oct 12 21:14 CET | AFP/DAPD/The Local/jlb
    The head of the European Central Bank (ECB) on Sunday threw his weight behind a German scheme to allow the EU to intervene in countries' budgets and propose changes before they are agreed in parliaments. The EU should have the power to police and interfere in member states' national budgets, Mario Draghi told Der Spiegel magazine in an interview due to be published on Monday, saying he “completely supported” the suggestion by German Finance Minister Wolfgang Schäuble to give more autonomy to the EU's economic and monetary affairs commissioner. … "Several governments have not yet understood that they lost their...
  • (European Central Bank head Mario) Draghi Gets Powers to Rival Bernanke

    07/08/2012 2:24:35 AM PDT · by Olog-hai · 3 replies
    CNBC ^ | Published: Tuesday, 3 Jul 2012 | 2:39 AM ET | (Via NYT)
    The spotlight in the European debt crisis has now shifted decisively toward the influential leader of the European Central Bank, Mario Draghi, who emerged from the recent summit meeting in Brussels with new powers and stronger backing to address the Continent’s financial woes. Political leaders took significant strides toward making the central bank more like the United States Federal Reserve, giving it authority to oversee the eurozone’s largest banks and, once that new regulator is in place as soon as the end of this year, a likely role in rescuing Spanish banks with capital directly from the European rescue funds....