Lunedì, 24 Settembre 2018

Beginning of 2013 will continue to be weak, says Draghi


Brussels, February 18 - The new year has begun on a
more fiscally stable note, but economic weakness is likely to
continue and that demands continued government reforms and other
stabilizing measures, European Central Bank President Mario
Draghi said Monday.
"Available indicators signal further weakness at the
beginning of 2013, with domestic demand remaining dampened,"
Draghi said in a statement before the European Parliament's
Committee on Economic and Monetary Affairs.
"This is due to weak consumer and investor sentiment and to
the necessary balance sheet adjustments in both the public and
private sectors. Foreign demand also remains subdued".
Later, Draghi also said that Italian banking system has
emerged from economic crisis in good shape, but there is still a
risk that continued to exposure to a recession-plagued economy
will take its toll.
"The Italian banking system has proved to be robust despite
the crisis, it did not need public re-capitalizations as in
other countries," said Draghi.
And he maintained the scandals plaguing Italy's
third-largest bank, Monte dei Paschi di Siena (MPS), are part of
an "isolated case" involving not just poor management but
possible criminal activity.
MPS, the world's oldest bank, is creaking under the weight
of the failed derivatives transactions and alleged corruption
which has involved some of the bank's top managers.

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