The support of monetary policy is
still necessary to reabsorb resources and restore inflation to
target levels, European Central Bank President Mario Draghi said
Monday.
"It is still too early to change monetary policy," Draghi
said.
He said that the recovery was stronger but inflation targets
were still far off, stressing that "more accommodating"
conditions were still needed.
Draghi said prospects were getting better but more growth was
needed.
He added that "we will support bank reorganisation,
post-Brexit".
Draghi repeated that the euro was irrevocable.
High-debt countries like Italy should look to boost growth
because their interest payments will rise when inflation goes
back up, Draghi told the European Parliament.
Draghi said it was not up to him to say if having a
general election in Italy soon was a good idea or not.
Answering an Italian MEP who asked him if now was a good time
for an election, Draghi said "there are elections everywhere,
it's hard to give a judgment, certainly it's not me who can give
the best judgment on the date of elections".
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