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ECB chief defends controversial bond purchase scheme

Agence France-PresseJune 10, 2013 15:35
European Central Bank chief Mario Draghi defended one of his key anti-crisis measures on Monday, saying it did not overstep the bank's mandate. Speaking on German television a day before Germany's highest court was scheduled to examine the controversial OMT bond purchase programme, Draghi rejected concerns that the scheme was effectively a way of printing money to pay for government debts. "It will only come into action if confidence in the euro fails, not to finance states," Draghi told ZDF public television.

Draghi says high debt countries must not row back on budget goals

May 8, 2013 18:33
ROME (Reuters) - The euro zone must keep control of its public finances and high debt countries in particular must not reverse budget reforms, European Central Bank President Mario Draghi said on Monday. In a speech delivered in Rome, Draghi addressed growing concern among governments and policymakers at the social strains appearing in many countries as efforts to contain the bloc's sovereign debt crisis crush economic growth. But he said there could be no prospect of sustainable growth without sound public finances.

ECB seeks way to unblock credit to SMEs

Agence France-PresseMay 2, 2013 11:30
The European Central Bank said Thursday it is seeking ways to get credit flowing to small and medium-sized companies in the countries worst hit by the debt crisis. ECB chief Mario Draghi said the bank has decided to consult "other European institutions on initiatives to promote a functioning market for asset-backed securities collateralised by loans to non-financial corporations." ECB watchers and analysts see the European Investment Bank as playing a key role.

European Central Bank cuts key rate to new low of 0.5 per cent to help kick-start euro economy

The Canadian PressMay 2, 2013 08:15
FRANKFURT - The European Central Bank cut its key interest rate to a record low 0.50 per cent Thursday and announced other measures to spur lending and help lift the euro area out of a stubborn recession. The bank also extended its offer of unlimited, cheap loans to banks at least through July 2014. Previously, the ECB had planned to end the program as soon as this July The ECB lowered its benchmark refinancing rate from 0.75 per cent, as expected, at a meeting of its rate-setting council in Bratislava, Slovakia.

ECB's Draghi sees gradual H2 recovery in euro zone

April 16, 2013 11:30
STRASBOURG, France (Reuters) - The European Central Bank expects the euro zone economy to recover gradually in the second half of this year, though this outlook is subject to "downside risks", ECB President Mario Draghi said on Tuesday. In prepared remarks delivered to the European Parliament, Draghi stuck closely to the outlook he gave after the ECB's policy meeting earlier this month, when he said the central bank was "ready to act" to boost the recession-hit euro zone economy.

European shares erase gains on Draghi comments

March 7, 2013 10:48
LONDON, March 7 (Reuters) - European shares erased gains to trade flat during a European Central Bank press conference on Thursday, in which Mario Draghi was non-committal as to whether he felt equity markets were fairly priced at current lofty levels. The FTSEurofirst 300 was trading flat at 1,185.71 by 1425 GMT, off an earlier peak of 1,190.25. For highlights of European Central Bank President Mario Draghi's comments at his post-meeting news conference, click on

URGENT ¥¥¥ ECB governing council discussed possible rate cut: Draghi

March 7, 2013 10:17
The European Central Bank's policy-setting governing council discussed a possible cut in interest rates at its regular monthly meeting Thursday, but the consensus was to hold them steady, ECB chief Mario Draghi said. "Yes, we discussed possibility of doing it. But the prevailing consensus was to leave rates unchanged," Draghi told a news conference after the central bank held its key refinaning rate at its current historical low of 0.75 percent. spm/ric/wai

European stocks gain from Wall Street bounce

February 28, 2013 09:16
European equity markets mostly rose Thursday after Wall Street hit five-year peaks on bright data and upbeat comment from the heads of the US Federal Reserve and the European Central Bank, dealers said. London's benchmark FTSE 100 index of leading companies added 0.40 percent to 6,351.11 points and in Paris the CAC 40 won 0.42 percent to 3,707.12. Frankfurt's DAX 30 index gained 0.82 percent to 7,738.16 points, aided also by official data which showed that Germany's jobless total fell to its lowest level in five months in February.

Britain's FTSE gains on the back of central bank comments

February 28, 2013 08:30
* FTSE 100 gains 0.3 percent * Fed testimony lifts shares for second day, Draghi helps * RBS falls after results, bucks trend in banks By Alistair Smout LONDON, Feb 28 (Reuters) - Britain's top shares rose on Thursday as assurances from U.S. and European central banks that they would pursue supportive monetary policy helped extend a rebound after a deadlocked Italian election earlier this week.

Prospects of central bank support lift European shares

February 28, 2013 04:30
LONDON, Feb 28 (Reuters) - European shares rose on Thursday as investors took heart from fresh signs that central banks would continue steps to support the world economy. The pan-European FTSEurofirst 300 index was up by 0.4 percent at 1,165.47 points while the euro zone's blue-chip Euro STOXX 50 index advanced 0.6 percent to 2,626.55 points. The index continued a recovery from losses earlier this week, caused by Italy's political deadlock.
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