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

June 15, 2012

, 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.

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