AFP, Frankfurt :
The president of the European Central Bank has called for a “quantum leap” in links between eurozone institutions, warning the region must not rest on its laurels even as he welcomed signs of a recovery.
Mario Draghi said he was “optimistic” about the outlook for the common currency zone, stating during a speech in Frankfurt that: “Most indicators suggest a sustained recovery is taking hold”.
“These effects look set to persist for some time, meaning we can rightly be optimistic about the outlook,” he continued.
“But this does not mean we should rest on our laurels. On the contrary, a nascent recovery provides us with a window of opportunity.”
For the union to be sustainable, he said, “there must be a quantum leap in institutional convergence”.
“We need to move from a system of rules and guidelines for national economic policy making, to a system of further sovereignty sharing within common institutions.
The president of the European Central Bank has called for a “quantum leap” in links between eurozone institutions, warning the region must not rest on its laurels even as he welcomed signs of a recovery.
Mario Draghi said he was “optimistic” about the outlook for the common currency zone, stating during a speech in Frankfurt that: “Most indicators suggest a sustained recovery is taking hold”.
“These effects look set to persist for some time, meaning we can rightly be optimistic about the outlook,” he continued.
“But this does not mean we should rest on our laurels. On the contrary, a nascent recovery provides us with a window of opportunity.”
For the union to be sustainable, he said, “there must be a quantum leap in institutional convergence”.
“We need to move from a system of rules and guidelines for national economic policy making, to a system of further sovereignty sharing within common institutions.
