Skip to content
Subscriber Only

Draghi Says Euro’s 20th Birthday Is Time for ‘Candid’ Reflection

  • Euro has been ‘success,’ but not everyone has reaped benefits
  • ECB president to mark anniversary with Italy speech Saturday
A one euro coin and a euro note is arranged for a photograph in London, U.K., on Tuesday, June 28, 2011. The euro dropped for the first time in seven days versus the greenback after Moody's Investors Service said banks rolling over Greek bonds into new securities may incur impairment charges.
Photographer: Chris Ratcliffe

The euro’s 20th birthday is no cause for triumphalism but rather for a “candid” reflection on what went wrong with the single currency, Mario Draghi said.

The European Central Bank president’s final press conference of 2018 was largely focused on the end of new asset purchases amid a slowing economy. But responding to a journalist’s question, he admitted that while the euro has been a “success” not everyone benefited equally.