The ECB president stresses the provisional nature of the recent monetary policy for the purchase of debt by 60,000 million euros.
“Governments and the European Commission must act” to stimulate the economy and should not rely on monetary policy, said Thursday the president of the European Central Bank (ECB), Italian Mario Draghi.
“The Monetary policy can create the basis for growth, but that growth is claimed investments are needed “and that corresponds to politicians, Draghi said, after announcing a massive debt purchase program by 60,000 million euros.
With this measure, which will be implemented from March 2015 to September 2016, member countries of the Eurozone have a significant margin breath, which will allow them to implement aimed at reviving the economy in their own country strategies from investment incentives.
The question now is where such investments could come. They do not just look to the Chinese economy, but has shown the lowest growth rate in recent years, it is also true that it has begun to show interest in expanding the positioning their capital in Europe.
It is worth mentioning that after the ECB announcement of the massive purchase of debt, bond yields to 10 years in Spain and Italy reached historic lows Thursday
The Spanish bond rate was 1.450%, against 1.530% Wednesday on the secondary debt market and issued. The Italian bond was trading at 1.609% from 1.691% on the previous day.
fondos@eleconomista.com.mx
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