Draghi calls for “bold structural reforms” to governments – Economic

Draghi calls for "bold structural reforms" to governments – Economic

Moitinho Marta Oliveira

Yesterday 14:51

President of the European Central Bank (ECB) on Monday renewed the call for national governments help revive the economy of the euro area through the implementation of structural reforms.

” bold structural reforms and improvements in the competitiveness of the private sector are essential to improve the business climate, “said Mario Draghi in the European Parliament, quoted by Reuters.

With this statement, the ECB president thus renews appeals to governments Eurozone to adopt structural reforms to revive the economy of the euro zone.

The structural reforms and improving the competitiveness of the private sector will “accelerate investment, as necessary, and create a demand for credit “Draghi argued.

Responsible for conducting monetary policy added that structural reforms are a” crucial addition “to the ECB’s policy and accelerates an” effective transmission “of monetary policy.

Mario Draghi added that there is a “descendant” risk around the economic growth in the eurozone. “Recent indicators gave no indication that the fall” in economic activity is to stop, the ECB president said, quoted by Bloomberg.

The inflation rate in the euro area stood at 0.4 % in August, the lowest growth in the last five years.