PARIS (MNI) – European Central Bank President Mario Draghi said
Monday that the achievement of European leaders at last week’s Brussels
summit has not been fully appreciated by financial markets.
“The EU summit has received much less recognition by markets and
the public media than it actually deserved,” Draghi told European
parliamentarians in Brussels. “It was a more significant step than what
has been appreciated in the immediate aftermath.”
Draghi said that market expectations that the summit would produce
a “silver bullet” to end the Eurozone crisis were not realistic.
“The new fiscal compact is an essential signal” to investors about
the future, Draghi said. “It should contribute to making public finances
in the euro area incredibly robust.”
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