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ECB's Draghi: The recovery in the euro area is resilient
Key highlights from ECB President Mario Draghi's speech, given in response to receiving an honorary doctorate from the University of Tel Aviv:
- The recovery in the euro area is resilient and is increasingly broad-based across countries and sectors
- Domestic demand, supported by the ECB’s monetary policy, is the mainstay of that recovery
- Five million more people are employed now than were in 2013, and unemployment though still too high is at an eight-year low
- The institutional architecture of the Economic and Monetary Union remains incomplete in a number of aspects
- The crisis has exposed structural weaknesses in our construction and has forced us to address them.
- The repair has started with the creation of the banking union.
Author
Eren Sengezer
FXStreet
As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.
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