CollectionsMario Draghi
IN THE NEWS

Mario Draghi

FEATURED ARTICLES
BUSINESS
September 9, 2012
"This weak jobs report is going to feed into [the Fed's] argument that the economy is growing at a subpar pace. " - John Silvia, chief economist at Wells Fargo, on Friday's unemployment numbers. "Let me repeat what I said last month: We act strictly within our mandate to maintain price stability over the medium terms; we act independently in determining monetary policy; and the euro is irreversible. " - European Central Bank president Mario Draghi, introducing a widely heralded plan for the bank to buy European government bonds in an attempt to lower those nations' borrowing costs in the ongoing financial crisis.
BUSINESS
August 4, 2012 | By Carol J. Williams, Los Angeles Times
European Central Bank chief Mario Draghi vowed Thursday that the euro common currency is "irreversible," but the bank's decision not to ease borrowing costs for heavily indebted eurozone members such as Spain and Italy drove markets into renewed turmoil. Draghi had raised expectations that the central bank would act to reassure investors that the euro is a safe bet when he said last week that his institution would "do whatever it takes" to protect the euro from bond market speculation.
BUSINESS
November 25, 2012 | By Stefan Riecher and Scott Hamilton, Bloomberg News
European Central Bank president Mario Draghi said his institution had the competence to supervise the euro region's banks and sought to allay concerns that it might be overburdened by the task. "Some observers have suggested that the presence in the same institution of monetary policy and supervisory decisions can lead to excessive burdens, a potential confusion of roles and/or distorted incentives," Draghi said in a speech in Frankfurt on Friday. Though those concerns "must be taken seriously," building a single supervisor around the ECB "is the only pragmatic" option "in the present circumstances," he said.
BUSINESS
December 2, 2011 | By David Mchugh, Associated Press
FRANKFURT, Germany - The major players with the power to tackle Europe's financial crisis are in a standoff - to a large degree, of their own design. Each has the capacity to take strong action independently but instead is urging one of the others to make the first move. That's complicating expectations for a major summit of European Union leaders next week. The European Central Bank, Germany, heavily indebted eurozone governments, and the International Monetary Fund each wants, needs, or expects something from someone else before taking politically difficult and risky steps to quell the crisis.
BUSINESS
May 3, 2013 | By David McHugh, Associated Press
FRANKFURT, Germany - The European Central Bank cut its key interest rate to a record 0.50 percent Thursday and announced other measures to spur lending and help lift the eurozone out of a stubborn recession. ECB president Mario Draghi said the bank was prepared to flex its muscles further in the face of high and rising unemployment and growing evidence that Europe's economy is getting weaker. He said the ECB stood "ready to act if needed," but implored European governments - which responded to the region's debt crisis by slashing spending - to do more to stimulate economic growth.
BUSINESS
February 20, 2013 | By Jana Randow, Bloomberg News
European Central Bank president Mario Draghi said he urged finance chiefs from the Group of 20 nations to be prudent when talking about currency movements. During a G-20 meeting in Moscow last week, "I urged all parties to very, very strong verbal discipline" because "the less we talk about it, the better it is," Draghi told European lawmakers in Brussels on Monday. "Exchange rates should reflect fundamentals" and "looking at the real and nominal exchange rates of the euro, it is by and large around its long-term averages," he added.
BUSINESS
December 4, 2011 | By Reid Kanaley, Inquirer Columnist
The European Central Bank played a key role last week in temporarily quelling fears of an economic meltdown that could burn our own wallets. But what is the ECB and how does it function? The Fed across the pond. The ECB is the continental equivalent of the Federal Reserve. But if you ever thought Fed operations were complicated, you haven't looked into the ECB. The primer on the European system offered by investment site SeekingAlpha.com goes over the alphabet soup of the central bank's parts - the ESCB, NCBs and the MFIs for starters - and begins to explain their tortured inner workings.
BUSINESS
December 9, 2011 | By Matt Craft, Associated Press
NEW YORK - Financial markets slumped Thursday after the head of Europe's central bank dashed hopes that the bank was preparing to help extinguish the region's debt crisis. The Dow Jones industrial average dropped nearly 200 points on a day when investors around the world reacted to every word spoken and rumor spread at a summit of European Union leaders. The markets could be headed for another wild ride Friday as European officials try to strike a deal to mandate greater oversight of government budgets.
BUSINESS
December 9, 2011 | By Gabriele Steinhauser and Don Melvin, Associated Press
BRUSSELS, Belgium - European leaders were wrestling Thursday over how much of their sovereignty they were willing to give up in a desperate attempt to save the ambitious project of continental unity that grew from the ashes of World War II. At stake at the summit in Brussels is not only the future of the euro, but also the stability of the global financial system and the balance of power in Europe. To convince financial markets that Europe's economy-crushing debt crisis is a one-time event, countries will have to give up significant powers, such as some decisions on borrowing and spending, to a central authority.
BUSINESS
July 31, 2012 | By Matthew Craft, Associated Press
NEW YORK - A two-day rally that sent stocks soaring last week fizzled out Monday. European leaders vowed Thursday and Friday to keep the continent's monetary union intact, and investors sent stock markets higher. But stocks were little changed Monday as investors waited to see whether leaders would back up words with action. The Dow Jones industrial average sank 2.65 points to close at 13,073.01. JPMorgan Chase & Co. led the Dow lower, falling 2 percent to $36.14. U.S. Treasury Secretary Timothy Geithner met separately with Germany's finance minister and the head of the European Central Bank, Mario Draghi, on Monday.
1 | 2 | 3 | 4 | Next »
ARTICLES BY DATE
BUSINESS
June 8, 2013 | By Matthew Craft, Associated Press
NEW YORK - A Thursday afternoon rally on Wall Street gave the stock market a better day. The Standard & Poor's 500 index was down 10 points and falling at 12:30 p.m. as traders reacted to a slump in overseas markets. It seemed headed for another sell-off like Wednesday's 22-point drop. But the index reversed course and rose the rest of the day. It closed with a gain of 13.66 points, or 0.9 percent, at 1622.56. The Dow Jones industrial average rose 80.03 points, or 0.5 percent, to 15,040.62.
BUSINESS
May 3, 2013 | By David McHugh, Associated Press
FRANKFURT, Germany - The European Central Bank cut its key interest rate to a record 0.50 percent Thursday and announced other measures to spur lending and help lift the eurozone out of a stubborn recession. ECB president Mario Draghi said the bank was prepared to flex its muscles further in the face of high and rising unemployment and growing evidence that Europe's economy is getting weaker. He said the ECB stood "ready to act if needed," but implored European governments - which responded to the region's debt crisis by slashing spending - to do more to stimulate economic growth.
BUSINESS
February 20, 2013 | By Jana Randow, Bloomberg News
European Central Bank president Mario Draghi said he urged finance chiefs from the Group of 20 nations to be prudent when talking about currency movements. During a G-20 meeting in Moscow last week, "I urged all parties to very, very strong verbal discipline" because "the less we talk about it, the better it is," Draghi told European lawmakers in Brussels on Monday. "Exchange rates should reflect fundamentals" and "looking at the real and nominal exchange rates of the euro, it is by and large around its long-term averages," he added.
BUSINESS
January 1, 2013 | By Steve Rothwell, Associated Press
If you had told investors what was going to happen in 2012 - U.S. economic growth at stall speed, an intensifying European debt crisis, a slowdown in China, fiscal deadlock in Washington, decelerating corporate-earnings growth - and asked how the stock market would perform, few would have predicted a good year. But that's just what they got. The markets all ended the year substantially higher, despite losing ground in the final days as fiscal-cliff concerns mounted. The Dow ended 2012 with a 7.3 percent increase, its fourth yearly gain in a row, having started the year at 12,217.
BUSINESS
November 25, 2012 | By Stefan Riecher and Scott Hamilton, Bloomberg News
European Central Bank president Mario Draghi said his institution had the competence to supervise the euro region's banks and sought to allay concerns that it might be overburdened by the task. "Some observers have suggested that the presence in the same institution of monetary policy and supervisory decisions can lead to excessive burdens, a potential confusion of roles and/or distorted incentives," Draghi said in a speech in Frankfurt on Friday. Though those concerns "must be taken seriously," building a single supervisor around the ECB "is the only pragmatic" option "in the present circumstances," he said.
NEWS
November 12, 2012 | By David McHugh and Don Melvin, Associated Press
FRANKFURT, Germany - The worst of Europe's financial crisis appears to be over. European leaders have taken steps to ease the panic that has plagued the region for three turbulent years. Financial markets are no longer in a state of emergency over Europe's high government debts and weak banks. And this gives politicians from the 17 countries that use the euro breathing room to fix their remaining problems. Threats remain in Greece and Spain, and Europe's economy is forecast to get worse before it gets better.
BUSINESS
September 13, 2012 | By Karin Matussek, Bloomberg News
Germany's top constitutional court Wednesday rejected efforts to block a permanent eurozone rescue fund, handing a victory to Chancellor Angela Merkel, who championed the bailout facility. The Federal Constitutional Court in Karlsruhe dismissed motions that sought to block the European Stability Mechanism, while ruling that Germany's $240 billion contribution cannot be increased without legislative approval. The court said Germany can ratify the ESM if it includes binding caveats that it won't be forced to assume higher liabilities without its consent.
BUSINESS
September 9, 2012
"This weak jobs report is going to feed into [the Fed's] argument that the economy is growing at a subpar pace. " - John Silvia, chief economist at Wells Fargo, on Friday's unemployment numbers. "Let me repeat what I said last month: We act strictly within our mandate to maintain price stability over the medium terms; we act independently in determining monetary policy; and the euro is irreversible. " - European Central Bank president Mario Draghi, introducing a widely heralded plan for the bank to buy European government bonds in an attempt to lower those nations' borrowing costs in the ongoing financial crisis.
NEWS
September 7, 2012 | By David McHugh, Associated Press
FRANKFURT, Germany - The European Central Bank unveiled its most ambitious plan yet to ease Europe's financial crisis with a pledge to buy unlimited amounts of government bonds to help lower borrowing costs for countries struggling to manage their debts. Large-scale purchases of short-term government bonds would drive up their price and push down their interest rate, or yield, taking some pressure off financially stressed governments such as Spain and Italy. "We will have a fully effective backstop to avoid destructive scenarios," bank president Mario Draghi said at a news conference, at which he also defended the euro currency union as "irreversible.
BUSINESS
September 6, 2012 | By Paul Wiseman and Bernard Condon, Associated Press
Move over, Ben Bernanke. This is Mario Draghi's moment. The European Central Bank president is overtaking the Federal Reserve chairman - at least for now - as the central banker with the most influence on the global economy and markets. Faced with a growing recession and a possible breakup of the 17-country euro alliance, Draghi has bigger problems than Bernanke, who's overseeing an economy in recovery. Some economists expect the ECB to cut its benchmark interest rate Thursday.
1 | 2 | Next »
|
|
|
|
|