Draghi starts speaking to EU parliament
- There are increasing concerns over the global economy
- Headwinds will need close monitoring
- The deterioration in market sentiment has gathered pace
- The Eurozone is in a good position to reduce bad loan (Is that a nod to the earlier story?)
- ECB will do its part to bolster EZ resilience
- Since early December a general deterioration in market sentiment has taken root and has gathered pace over the last week
- Bulk of EU banks have relatively limited exposure to EM and commodity producing countries, and are trading well below their book values
- ECB will act if market turmoil increases price instability
There seems to be a lot of short term comments in the speech
I'm just reading through the full transcript and if anyone is trying to get onto the EU broadcast it looks like it's down.
