Connect with us

Hi, what are you looking for?

Capital Business
Capital Business

World

ECB chief says ‘euro vision’ will be ready very soon

FRANKFURT, Jun 15 – Europe’s policymakers will make known their vision for the euro area — which is vital to reassure markets and the bloc’s citizens — very soon, European Central Bank President Mario Draghi said Friday. Speaking at a conference of ECB watchers here, Draghi said he was “in close contact with (EU president) Herman Van Rompuy, (EU Commission chief) Jose-Manuel Barroso and (the head of eurozone finance ministers) Jean-Claude Juncker to reflect on elements of a longer-term vision for our economic and monetary union.” The four have been tasked with forming a “masterplan” for the eurozone’s future. Asked when the outcome of those deliberations would be made public, the Italian replied: “Very soon. All the work we’re doing is with a view to the next summit” at the end of June. “The outcome will get to be known pretty soon, in a matter of days,” he added. At the current time of crisis and financial turmoil, the idea that 17 countries “share a common path and a common objetctive is already a big achievement,” Draghi said. “Markets and people needed to be assured that we’re travelling together.” In recent weeks, Draghi has repeatedly called on European leaders to sketch out a vision of how the euro will work in the future and last week said he expected clarification of this vision to come at a meeting of the European Council on June 28-29.

Click to comment
Advertisement

More on Capital Business

Executive Lifestyle

NAIROBI, Kenya, Mar 12 – The country’s super wealthy individuals are increasing their holding of bonds, gold and cash, a new report by Knight...

Ask Kirubi

NAIROBI, Kenya, Mar 9 – Businessman and industrialist Dr. Chris Kirubi has urged members of the public to exercise extreme caution when making any...

Ask Kirubi

NAIROBI, Kenya, Mar 24 – Businessman and industrialist Dr. Chris Kirubi is set to own half of Centum Investment Company PLC, following a go-ahead...

Ask Kirubi

It is without a doubt that the COVID-19 pandemic has caught the whole world by surprise. Although its full impact is yet to be...

Headlines

NAIROBI, Kenya, Mar 18 – Commercial Banks have been ordered to provide relief to borrowers on their personal loans, with loans eligible from March...

Kenya

NAIROBI, Kenya, Jun17 – Kenya’s tea leaves manufacturer Kericho Gold, has been awarded the Superbrands Seal by Superbrands East Africa for their quality variety...

Coronavirus

NAIROBI, Kenya, Apr 13 – As the local telecommunications industry gears up to roll out 5G networks in the country, the Communications Authority of...

Coronavirus

NAIROBI, Kenya, Mar 22 – Airtel Kenya is offering free internet access for students in order to enable continued learning at home in the...