ECB's Draghi: The recovery in the euro area is resilient

Eren Sengezer FXStreet

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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