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Mario Draghi Says Stimulus Must Create New Jobs, Not Save Old Ones

Mario Draghi

Mario Draghi

Photographer: Alex Kraus/Bloomberg

Former European Central Bank President Mario Draghi urged governments to channel stimulus funds toward sectors that can create new jobs for young people rather than spending money to defend the status quo.

“Subsidies will have to go down but at the same time jobs will be created,” Draghi said at an online event. “It’s very good if the government succeeds in giving jobs and taking out subsidies, and again it’s especially good for young people.”