BRUSSELS (Reuters) – The president of the European Central Bank urged the region’s leaders on Thursday to speed along a new EU investment plan and renewed his calls for economic reform.
At a meeting of European Union leaders including Germany’s Angela Merkel and France’s Francois Hollande, Mario Draghi warned of the fragile state of the euro zone’s economy where inflation is low as oil prices tumble, according to people briefed on discussions.
FRANKFURT (Reuters) – The head of the European Central Bank is set to tell European leaders in stark terms at a summit next week that they need to reform straggling economies or risk blunting an ambitious monetary offensive to help revive the stagnant euro zone.
As the central bank inches closer to printing money to buy government bonds, Mario Draghi has become increasingly worried about slack reform in countries such as France and Italy, which he fears will undermine the long-term boost from so-called quantitative easing (QE).
FRANKFURT, Dec 11 (Reuters) – The European Central Bank got
a lukewarm response from banks on Thursday in its fight to
revitalize the sluggish euro zone economy, adding pressure on
policymakers to start printing money next year to buy sovereign
Banks borrowed almost 130 billion euros ($160 billion) of
four-year loans from the ECB in its latest lending round, which
is what traders had expected but brings the total take-up to
212.4 billion euros, far short of the 400 billion euro upper
limit identified for the end of the year.
FRANKFURT (Reuters) – The euro zone’s economy is weakening ‘massively’, one of the European Central Bank’s policymakers warned on Monday, saying that printing fresh money to buy state bonds could help to stop the slide.
Speaking in Germany, the head of neighbouring Austria’s central bank advocated a more ambitious course for the European Central Bank, distancing himself from Germany, where many politicians and its central bank oppose such money printing.
FRANKFURT, Dec 8 (Reuters) – The euro zone’s economy is
weakening ‘massively’, one of the European Central Bank’s
policymakers warned on Monday, saying that printing fresh money
to buy state bonds could help to stop the slide.
Speaking in Germany, the head of neighbouring Austria’s
central bank advocated a more ambitious course for the European
Central Bank, distancing himself from Germany, where many
politicians and its central bank oppose such money printing.
FRANKFURT/VIENNA, Dec 5 (Reuters) – European Central Bank
policymaker Ewald Nowotny on Friday backed ECB President Mario
Draghi on steps to revive the euro zone economy with new
stimulus, while Germany firmly maintained its opposition to
buying sovereign bonds.
The support of Nowotny, Austria’s central bank chief, may
prove crucial for Draghi as he seeks to expand the scale of ECB
action next year, most likely including quantitative easing
(QE), the printing money to buy government bonds.
FRANKFURT, Dec 5 (Reuters) – The head of Germany’s
Bundesbank warned the European Central Bank on Friday against
copying the money printing used in the United States and Japan,
saying that it would not have the same impact in Europe.
Speaking a day after ECB President Mario Draghi signalled
further action to shore up the euro zone economy as soon as
early next year, Jens Weidmann cautioned that so-called
quantitative easing may not work in Europe.
FRANKFURT/BERLIN (Reuters) – The European Central Bank will decide early next year whether to take further action to revive the euro zone’s economy, its president said on Thursday, signalling that he would not allow opposition from Germany or anyone else to stop it.
In his clearest language yet, Mario Draghi underlined the central bank’s commitment to supporting the ailing economy of the 18-country bloc, and argued the case for printing fresh money to buy assets such as state bonds.
FRANKFURT (Reuters) – The European Central Bank will spell out the scale of economic malaise facing the euro zone after it meets on Thursday under growing pressure to take dramatic action to prevent the bloc going into reverse.
With recovery stalled across much of the 18-country euro area, ECB President Mario Draghi will present updated forecasts from the bank’s staff for growth in output as well as inflation.
FRANKFURT (Reuters) – European Central Bank President Mario Draghi threw the door wide open on Friday for more dramatic action to rescue the euro zone economy, saying “excessively low” inflation had to be raised quickly by whatever means necessary.
Draghi said there was now no sign of economic improvement in the months ahead and that the ECB would expand and step up its programme to pump more money into the currency bloc if its current measures fell short of lifting inflation.