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A wide ranging interview with Mario Draghi by Wall Street Journal reporters Blackstone, Karnitschnig and Thomson, which gives insights on how Draghi sees solutions to the crisis in the eurozone and future policy. Draghi favors good fiscal consolidation which combines freeing up labor markets and structural changes for Italy, Spain and other southern countries, with spending reductions, and capital investment in the future as opposed to tax increases for current spending and lack of capital investment for future growth. He points out that with excessive debt to GDP ratios there is no alternative to this right kind of fiscal consolidation. The fiscal consolidation gives the structural changes time to be put in place..
Grouped Articles
ECB Moves Markets, Not Economy
Wall Street Journal 05/03/2013
The Man Whoâll Do Triage on Europeâs Banks
New York Times 10/20/2013
ECB Struggles With Low-Altitude Flying
Wall Street Journal 11/10/2013
Euro Strengthens as Fears Fade
Wall Street Journal 01/12/2013
Bonds of Italy, Spain Narrow Gap With U.S., German Yields
Wall Street Journal 04/09/2014
E.C.B. Plots Strategy for Staving Off Deflation
New York Times 05/26/2014
Draghi says any risks of a bubble should be tackled with tighter financial regulation and not by raising rates for fragile economies in Europe in 2014-2015. He sees frothy conditions in the market but no signs of a bubble in the eurozone.
Grouped Articles
Draghi Sees No Risk of Eurozone Bubbles
New York Times 07/14/2014
Merkel Hints at Economic Policy Shift in Germany
New York Times 10/09/2014
ECB’s Draghi Sees No Bubble in Eurozone Government Bond Market
Wall Street Journal 10/13/2014
European Investors Show Faith in ECB
Wall Street Journal 11/17/2014
ECB Open to Further Easing, Says Draghi
Wall Street Journal 11/18/2014
The Upside of Europe’s Ebbing Inflation
Wall Street Journal 12/03/2014
An account of how the ECB's Draghi struggled to ovecome opposition from the Bundesbank to his decision in July 2012 for unlimited bond purchases of sovereign bonds of Italy and Spain to reduce bond yields and borrowing rates on debt. Draghi's famous words at the time were that the ECB would take decisive action: "believe me it will be enough." To do this he had to work closely with Finance minister Schauble and chancellor Merkel of Germany to overcome opposition from German media.
Grouped Articles
German Court to Weigh Bond Buying by E.C.B.
New York Times 06/10/2013
German Election Overturns Political Order
Wall Street Journal 09/23/2013
Euro Strengthens as Fears Fade
Wall Street Journal 01/12/2013
Bonds of Italy, Spain Narrow Gap With U.S., German Yields
Wall Street Journal 04/09/2014
As Bond Markets Twist, Investors Shout
Wall Street Journal 06/10/2014
Wall Street Journal 06/10/2014
Grouped Articles
European Central Bank Chief Looks for Silver Bullet
New York Times 06/03/2014
ECB Unveils Rate Cuts, Lending Package
Wall Street Journal 06/05/2014
Wall Street Journal 06/10/2014
Draghi Sees No Risk of Eurozone Bubbles
New York Times 07/14/2014
ECB’s Draghi Sees No Bubble in Eurozone Government Bond Market
Wall Street Journal 10/13/2014
Risk of Deflation Feeds Global Fears
Wall Street Journal 10/16/2014
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