Draghi Presses for Euro-Area Fund as Buffer in Future Crises
- ECB president criticizes EU debate before June summit
- Draghi says risk sharing and risk reduction don’t conflict
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European Central Bank President Mario Draghi stepped up his call for a euro-area fund to make sure countries don’t drift apart in future crises.
“We need an additional fiscal instrument to maintain convergence during large shocks, without having to overburden monetary policy,” he said on Friday at an European Union event in Florence, Italy. “Its aim would be to provide an extra layer of stabilization, thereby reinforcing confidence in national policies.”