–Parliament’s Vote On New Austerity Package Is “Essential” For Future
FRANKFURT (MNI) – European Central Bank President Mario Draghi on
Wednesday lauded Greece’s progress and called on the government in
Athens to maintain its deficit cutting and reform efforts.
Greece has made “significant if not extraordinary progress,” Draghi
said after giving a speech at a banking conference here. But he also
warned that a vote by Greek parliamentarians today on a new E13.5
billion austerity package is “essential” for the country’s future.
Greece’s destiny is “in their hands,” he said.
The Eurozone “as a whole is by and large on course,” Draghi noted.
He said there has been a “significant stabilization” in financial
markets since the ECB’s OMT announcement, noting that “money from the
rest of the world is coming back” into the Eurozone.
Draghi said he could understand the concerns about the ECB’s new
policy, especially in Germany, but he reiterated that the central bank
remained committed to price stability. He added that normalizing
interest rates across the Eurozone – which would imply higher German
rates – could help Germany by giving savers a boost.
— Frankfurt newsroom: +49-69-720142; email: frankfurt@mni-news.com
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