Draghi calls on leaders to boost demand reforms and lower taxes – Investing.com Spain

Brussels, Mar 17 (EFE) .- The president of the European Central Bank (ECB), Mario Draghi, said today that monetary policy has been “the only policy” that has driven the economic recovery in recent years, and that reforms are needed by the countries to boost demand and investment, and lower taxes.

Draghi, who participated today in the first part of the European summit on the European semester of coordination macroeconomic policies, said his departure that has sent leaders to do reforms.

“He made it clear that, although monetary policy has really been the one that has driven the recovery in recent years, can not solve some basic structural weaknesses of the eurozone economy, “Draghi said.

therefore, he added, it needed” structural reforms focused mainly on increasing the level of demand, public investment and a lower taxes “.

more important still, he said, it needs” clarity on the future of our monetary union “.

Draghi has made it” pretty clear “to the leaders “although these reforms are implemented more slowly than expected, there is no good excuse for us not to act”

“of course, if the perspectives change, we are prepared to use all appropriate instruments” he said.

the ECB president said that “the economy is recovering albeit with less momentum” and that “there are signs of improvements in various parts of the economy, partly in the labor market and markets credit “.

However,” risks remain and some have begun to intensified since early last September. “

ECB President recalled that therefore the Governing Council the company took last week important decisions and approved “a rather impressive package, strong enough” to direct funding to the real economy directly.

“Given the outlook then, the Governing Council expects the interest rates remain at current levels or lower for an extended period and far beyond the end of our purchase program “assets, he said.

in the economic debate of the summit, leaders have approved conclusions on supporting the priority areas for action to relaunch investment, continue with structural reforms to modernize the economy and make “responsible fiscal policies”, which collected the countries in their national reform programs or convergence .

in its June summit the European Council will address progress in deepening the economic and monetary union and adopt an agenda for the implementation of “all” aspects of the single market, including digital and capital.

(More information on the European Union euroefe.euractiv.es)