The European Central Bank wants a common fiscal stabilisation instrument to come into being sooner rather than later
European Central Bank president Mario Draghi. Picture: BLOOMBERG/ANDREAS ARNOLDEurozone governments should move “faster” towards a joint budget that could help smooth economic shocks and support price stability in the single currency bloc, European Central Bank chief Mario Draghi said on Tuesday.
“Monetary policy can always achieve its objective alone, but ... it can do so faster and with fewer side effects if fiscal policies are aligned with it,” he said. “We are committed, and are not resigned to having a low rate of inflation forever or even for now,” Draghi said. “In the absence of improvement ... additional stimulus will be required.”
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