Brussels, 15 February (EFE) .- Mario Draghi has stressed today that the entity chaired by the European Central Bank (ECB), has a wide and varied range of tools that will use if the situation so requires, but has again asked to capitals accompanying monetary policy with fiscal measures and investment.
Today, in his first public appearance after tough week they went through European exchanges and, in particular, banks in the eurozone, Draghi has reinvented his “magic words” to say this time that the ECB is “prepared to do its part” in defense of the euro.
in this regard, he mentioned the possibility that the Governing Council of the ECB revise “and probably reconsider” its monetary policy at its next meeting in early March, taking into account the evolution of prices and the effects of market turmoil.
“If either of these two factors entail downside risks for price stability, will not hesitate to act,” said ECB President before the European Parliament Committee on Economic and Monetary Affairs European Parliament (EP).
Draghi has sought to emphasize the positive aspects, such as the eurozone recovery is progressing, albeit slowly, and its banks have limited exposure to emerging markets, but he acknowledged that is being affected by the tensions and also faces “challenges”.
the ECB president stressed that eurozone banks are now stronger than in the dark days of 2012 and they are accompanied by a regulatory framework, banking union, which has laid a more robust basis for the sector, but did not avoid that this project is still unfinished.
“recent events have shown that the unfinished state our monetary integration can be a source of weakness. And it’s one more reason to take this opportunity to deepen our integration, “defended Draghi, who asked that negotiations with Britain advantage to strengthen the eurozone.
has also warned that it is necessary that the agreement that is reached with London is not “ambiguous”, since otherwise it could have “systemic” consequences would be negative for the euro partners.
the ECB president appealed to the capital to take action on the current situation, not only at Community level, but also at home, where he sees that there is still “much to do”.
“This means putting the emphasis on public investment, infrastructure investment and lower taxation and end the structural reforms that stimulate domestic demand, those that favor private investment and private consumption, “he said.
also defended the importance of compliance rules that marks the Stability Pact and European growth-a public deficit limit of 3% and 60% of GDP in the case of public debt to maintain “confidence”.
Spain it is one of the countries that breach this limit, which is committed to this year, although the Prime Minister in office, Mariano Rajoy, recently announced that the country ended 2015 with a deficit of 4.5% of its GDP, difficult this task.
Another issue that has been addressed Draghi is the future of 500 euro, on which acknowledged that the ECB is considering withdrawal as their use is mainly related to activities criminals.
the European Commission (EC) and the countries discussed that possibility last Friday in the Council of Ministers of Economy and Finance of the EU, although the final decision rests in the hands of Frankfurt.
the market impact of the highly anticipated intervention Draghi -during which he has addressed other current issues such as the negotiations between creditors and Greece and doubts about the Italians banks has been mild, causing a slight increase . in bags not recovered the levels of the beginning of the day
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