Mario Draghi

ECB stands ready to ease policy if needed, says Draghi

ECB stands ready to ease policy if needed, says Draghi

European Central Bank President Mario Draghi said the bank stands ready to cut interest rates if the economy deteriorates further, and officials are considering additional measures to boost growth as the debt crisis enters its fourth year.

Friday, 5 April, 2013, 5:10am

EU climbing out of crisis

A recovery in the EU is expected later this year as leaders act to channel a rebound in financial markets to the economy. Photo: Bloomberg

European leaders declaring they have gained the upper hand in the three-year-old debt crisis are sharpening efforts to channel a rebound in financial markets to an economic recovery to chip away at soaring unemployment.

15 Jan 2013 - 4:16am

Euro stops two-year loss on Mario Draghi commitment on debt crisis

The euro was up 2 per cent for the year to US$1.3216 on December 28 in New York, after dropping 3.2 per cent in 2011. Photo: AP

The euro halted a two-year losing streak as European Central Bank president Mario Draghi's commitment to backstop the shared currency stymied a debt-contagion threat.

31 Dec 2012 - 4:58am

Draghi leaves rate-cut door ajar as ECB lowers economic forecasts

The European Central Bank lowered its economic and inflation forecasts, and president Mario Draghi said weakness would persist into next year, leaving the door ajar for further interest-rate cuts.

"Weak activity is expected to extend into next year," Draghi said yesterday in Frankfurt after policymakers left the benchmark rate at a record-low 0.75 per cent.

7 Dec 2012 - 3:23am

Euro zone, IMF agree on new deal Greek debt deal

European Central Bank president Mario Draghi arrives for talks with euro zone finance ministers in Brussels. Photo: AFP

Euro zone finance ministers struck a new deal with the IMF early on Tuesday to slice more than 40 billion euros (US$52 billion) off Greece’s massive debt burden by 2020 – in turn freeing up long-blocked loans.

29 Aug 2013 - 4:13am

Business Digest, October 29, 2012

European Central Bank chief Mario Draghi

Stock sell-off to greet Milan Station warning

29 Oct 2012 - 5:08am

ECB holds key rates steady

Slovenian President Danilo Turk (right) with ECB chief Mario Draghi in Ljubljana, Slovenia, on Wednesday. Photo: AFP

The European Central Bank held its key interest rates at their current record low here on Thursday, and is also likely to hold fire on other key policy moves for now, analysts said.

29 Aug 2013 - 4:13am

European lenders renege on vow to slash assets

Mario Draghi

European banks promised last year to cut more than US$1.2 trillion of assets to help them weather the sovereign-debt crisis. Since then, they have grown only fatter.

Lenders in the euro area increased assets by 7 per cent to €34.4 trillion (HK$350 trillion) in the year to July, according to the European Central Bank.

19 Sep 2012 - 3:10am

Mario Draghi reverses previous euro policy

ECB president Mario Draghi has turned sentiment towards the euro around by reversing the policies of his predecessor. Photo: Bloomberg

European Central Bank president Mario Draghi is embracing policies dismissed by his predecessor to force euro bears to capitulate.

Since July 26, when Draghi said he would do "whatever it takes" to save the 17-nation euro, the currency has appreciated against major counterparts.

18 Sep 2012 - 2:12am

A good week for ...

Michelle Obama

Michelle Obama

The US first lady electrified the Democratic National Convention as her husband, Barack Obama, was formally nominated to run for re-election. To cheers from the delegates in Charlotte, North Carolina, Obama said her husband understood that "success isn't about how much money you make. It's about the difference you make in people's lives."


9 Sep 2012 - 12:36am