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| Arrival of Mario Draghi, President of the European Central Bank, to the Informal dinner of the members of the European Council, 8 December 2011 (Photo credit: European Council) |
European Central Bank President Mario Draghi called on Wednesday for a European “Growth Compact” to complement the Eurozone’s recently negotiated “Fiscal Compact.”
“What is most present in my mind is to have a ‘Growth Compact’,” Draghi told the European Parliament’s Economic and Monetary Affairs Committee in Brussels. “This was anticipated by the ‘six pack’. We now need to go back and have a ‘Growth Compact’,” he said.
The ECB president’s call for Europe to turn its focus to boosting economic growth, comes as voters and politicians in a growing number of Eurozone countries have begun to balk at the higher taxes and spending cuts being pursued by governments trying to bring their fiscal deficits
down to below the EU’s 3% ceiling and eventually into balance... Continue to read.
down to below the EU’s 3% ceiling and eventually into balance... Continue to read.
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