Do we need to have unanimity to proceed on QE or can we have a majority? I think we don't need unanimity.

Mario Draghi

Categorized in : Money

If we do not resolve the euro crisis, we will all pay the price. And if we do resolve it, we will all benefit, particularly German taxpayers and savers.

euro-crisis pay-the-price benefits

Within our mandate, the ECB is ready to do whatever it takes to preserve the euro. And believe me, it will be enough.

euro-crisis enough believe

Productivity growth is the only possible way to achieve prosperit... by Mario Draghi

Productivity growth is the only possible way to achieve prosperity.

prosperity growth way

We won't make the weak stronger by making the strong weaker, as a very wise man once said. That applies to the economy as well. If Germany were less competitive, the euro area as a whole would lose, because less could be produced then.

strong wise men

There is no better protection against the euro crisis than successful structural reforms in southern Europe.

euro-crisis successful europe

Governments must commit to sound economic and financial policies. This is how we ensure reform in the euro area - and our independence.

euro-crisis independence government

I trust the people who are working with me. I delegate. by Mario Draghi

I trust the people who are working with me. I delegate.

delegates people

In Latin you say: "Repetita iuvant - to repeat is beneficial". The fewer changes made in a country, the more often I repeat my messages. And it works.

messages latin country

Europe's financial system is fragmented, although the gap in funding costs for banks within the euro area is no longer as wide as it was two years ago. But in lending the differences are still very large, and in some countries the credit flow is disrupted.

differences country years

The insurance companies do not refer to the key policy rate when they send their statements. We can only control that rate. Long-term interest rates are determined largely by global financial markets.

determined keys long

In the European context tax rates are high and government expenditure is focused on current expenditure. A "good" consolidation is one where taxes are lower and the lower government expenditure is on infrastructures and other investments.

infrastructure investment government

Interest rates do not have to be identical across the whole euro area, but it is unacceptable if major differences arise from broken capital markets or concern about a euro area break-up.

differences break broken

In the absence of improvement, such that the sustained return of inflation to our aim is threatened, additional stimulus will be required.

The weakening in economic data points to a sizeable reduction in the pace of economic expansion that will extend into the current year.

This is still very much a momentum market worldwide. by Mario Draghi

This is still very much a momentum market worldwide.

If we decide that the current trajectory of our policy is not sufficient... we will do what we must to raise inflation as quickly as possible.

If we decide that the current trajectory of our policy is not sufficient to achieve our objective, we will do what we must to raise inflation as quickly as possible.

If we conclude that the balance of risks to our medium-term price stability objective is skewed to the downside, we will act by using all the instruments available within our mandate.

If we are convinced our medium-term inflation target is at risk we will take all the actions necessary.

One lesson is that we should get used to periods of higher volatility. At very low levels of interest rates, asset prices tend to show higher volatility.