tag:blogger.com,1999:blog-6207433846457587448.post644636825415517635..comments2015-11-08T17:57:18.106+00:00Comments on History and Economics: Being Mario DraghiFlorian Schuihttp://www.blogger.com/profile/05915482443883304487noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-6207433846457587448.post-72912223290730459482013-02-08T08:59:57.828+00:002013-02-08T08:59:57.828+00:00Dear Joe, first of all thanks for being the first ...Dear Joe, first of all thanks for being the first to leave a comment. I think, in many respects Draghi has done a good job given the circumstances. Certainly, his announcement to act as a lender of last resort for European countries brought the borrowing costs of the European periphery down and prevented a meltdown of the Europ in the short term. He did not take this decision alone but I don't think we would have seen a similar move of the ECB under a different president. So his handling of the short term worked well. About his long term strategy, I am more doubtful. Why is he not lowering interest rates further? Why is he worrying more about monetary stability than about growth? Having said this, I think for the longer term, fiscal policy will matter much more than anything that the BCE can do. So, ultimately, you may have a point that it's now up to the politicians. Florian Schuihttps://www.blogger.com/profile/05915482443883304487noreply@blogger.comtag:blogger.com,1999:blog-6207433846457587448.post-18300036909442449252013-02-07T10:55:41.332+00:002013-02-07T10:55:41.332+00:00Florian,
Do you think Draghi's position is eve...Florian,<br />Do you think Draghi's position is even valid at the moment considering the increasing polarisation of individual EU member states and their economic goals? <br />The North of the EU seems to want less spending than the South. <br /><br />Surely it will be national leaders looking at these figures at the forthcoming summit and Draghi will end up as a mediator with no real economic power other than a signature? Anonymoushttps://www.blogger.com/profile/18309493078509468021noreply@blogger.com