This morning, German weekly ‘Die Zeit’ reported that European Central Bank (ECB) president, Mario Draghi believes that “to continue to prosper, Germany needs to remain an anchor of a strong currency, at the center of a zone of monetary stability and in a dynamic and competitive euro area economy. Only a stronger economic and monetary union can provide this.”
According to Draghi, “when markets are fragmented or influenced by irrational fears, our monetary policy signals do not reach citizens evenly across the euro area”.
He added that “the ECB will do what is necessary to ensure price stability, it will remain independent and it will always act within the limits of its mandate.”
“We need to fix these obstructions to ensure a single monetary policy and price stability in addition to all citizens of the euro area,” according to Draghi.