MADRID | By JP Marin Arrese | These days, the EU institutions remain on standby mode till Angela Merkel steps in. The ECB is no exception. It is switched on but not actually working. Europe is waiting for the new German government to set the new agenda’s content and rhythm. Only then, substantive decisions could be taken.
MADRID | By Francisco López | The euro zone’s growth has been better than expected and the last data had unleashed speculation before a possible change of message of the ECB’s President. Far from reality. To the disappointment of the Bank’s Board hawks, with Germany at the forefront, Mr. Draghi has guaranteed that the price of money will follow “at the current level (0.50%) or even lower for an extended period of time”.
VALENCIA | By XTB analysts Miguel A. Rodriguez | Among all the obstacles that the European economies find in their way to recovery there is one particularly intractable: the Eurozone’s central bank itself. The ECB has proved to be too slow, and extremely fearful to display its powers.
MADRID | All the “Great Depression” stories show how both the governments’ blindness and central banks made the crisis last longer. So it does makes sense that in the current crisis both governments and central banks have been active to take measures, although not necessarily successful and effective. However, the ECB has been less belligerent than other bankers and its members don’t hold homogeneous positions.
MADRID | By José Hervás, via capitalmadrid.com | If the ECB doubts about some countries’ institutions, the central bank must say so. But analysts and market players aren’t the right judges of European monetary policies.
MADRID | By Carlos Díaz Guell | Mario Draghi was accused of having become a trader, but the ECB governor is just giving the European Monetary Union enough time to implement reforms.
MADRID | By Daniel Álvarez, analyst at XTB | Let us be fair with Mario Draghi: he is in charge of an institution that, unlike its peers, has very restricted powers and legal barriers he has sorted with precision.
MADRID | By Luis Arroyo | An economic recovery green shoot will still need some help to survive, but the ECB remains too biased towards inflation contention.
MADRID | By Raimundo Poveda | We should be be more careful with transfers of sovereignty. The next one will be the transfer of the banking supervision to the ECB.
MADRID | By Luis Arroyo | Monetary policies are a by-product of politics, after all, and in Europe, politics are tightly controlled from Berlin, which will probably use the Fed’s reaction as example of what the ECB must do.