ECB’s Draghi says economic risks tilt to downside

ECB’s Draghi says economic risks tilt to downside

European Central Bank President Mario Draghi acknowledged on Thursday that economic growth in the euro zone was likely to be weaker than earlier expected. The ECB left its guidance and interest rates unchanged at its meeting on Thursday. Draghi said, however, he was confident that uncertainties, ranging from the outcome of Brexit to China’s slowdown and trade protectionism, were being addressed.

KCooper
KCooper
Hannibal
Hannibal 1 year

They are looking for every excuse in the book. The EU economy has been limping along at 1.5-2% a year for over half a decade and most of that is German and Polish growth. Trade dust ups between the US and China don't affect the EU except their big banks and trading firms' balance sheets, which isn't even real growth! Their real problem is high labor costs that don't match productivity and stifling regulations and taxes. No French business owner wants to risk hiring someone they can't ever fire. New manufacturing is difficult when Eurozone utilities are the highest in the industrialized world. And for all the ag subsidies, prices remain stubbornly high.

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