Mario Draghi who will assume the mantle of European Central Bank President later this year said today that the debt crisis is entering a “new phase” and requires a strong response from the ECB.
“It’s now necessary for those trying to manage the sovereign crisis to give certainty, to define with clarity the political objectives, the scope of the instruments and the amount of resources available,†Draghi said today in a speech in Rome. “It’s a necessary step to ensure the stability of the euro area and its currency.â€
Source: Bloomberg
