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- ECB DRAGHI: ECB will always be guided by price stab. mandate
ECB DRAGHI: ECB will always be guided by price stab. mandate
- ECB won't be distracted by debt crisis,dependent banks
- Greater need now for monetary policy normalization
- Inflation risk rising, cites 30% rise in food/energy
- Debt crisis, dependent banks won't distract ecb
- EMU faced with most difficult test since its creation
- No shortcut out of eurozone debt crisis
- National govts must completely implement adjustments
- Return to fin. health possible, cites italy in 1990s
- Global current account imbalances rising again
- Rigid fx, savings&demand differences behind imbalances
- Systemically important banks must be allowed to fai
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