Economics
Draghi Urges ‘Significant’ Fiscal Response to an Economic Slump
This article is for subscribers only.
European Central Bank President Mario Draghi urged governments to ready their ammunition, saying monetary policy alone cannot combat a “significant worsening” of the economy.
Despite years of exceptional ECB support, the euro-area economy is in the throes of a slowdown in growth and inflation remains weak. In Germany, typically the region’s stalwart, manufacturing is mired in a slump as trade tensions weigh on exports and auto factories struggle to cope with changes in the industry.