Draghi urges eurozone not to give up on austerity

Series Title
Series Details 25.4.12
Publication Date 25/04/2012
Content Type

EUObserver reported that European Central Bank (ECB) chief Mario Draghi said on the 25 April 2012 at a European Parliament hearing that 'budget cuts may be deepening the recession, but governments should not give up now'.

Other features indicate reactions by political leaders in various EU Member States to the austerity v growth debate. Many seemed to called for a 'Growth Pact' to complement or be incorporated within the Fiscal Pact. However, there was disagreeemnt as to what a 'Growth pact' should consist of.

Source Link Link to Main Source http://euobserver.com/19/116030
Related Links
El País, 26.4.12: Rajoy: Merkel not in charge of austerity policy http://elpais.com/elpais/2012/04/26/inenglish/1335469438_362986.html
EUObserver, 26.4.12: Informal EU summit on growth possible before June http://euobserver.com/18/116053
ESO: Background information: Hollande seeks wider EU fiscal pac http://www.europeansources.info/record/hollande-seeks-wider-eu-fiscal-pact-business-backing-for-sarkozy-starts-to-cool/
ESO: Background information: Germany fears French threat to EU fiscal pact http://www.europeansources.info/record/germany-fears-french-threat-to-eu-fiscal-pact/
Spiegel Online International, 27.4.12: Austerity Backlash Unites European Leaders http://www.spiegel.de/international/europe/0,1518,830185,00.html
Die Zeit, 26.4.12: But austerity is necessary (via PressEurop) http://www.presseurop.eu/en/content/article/1880551-austerity-necessary
BBC News, 25.4.12: Eurozone leaders push for growth http://www.bbc.co.uk/news/business-17839985
The New York Times, 25.4.12: E.C.B. President Urges Rigor for the Long Term http://www.nytimes.com/2012/04/26/business/global/ecb-president-urges-rigor-for-the-long-term.html
European Parliament: Press Release, 25.4.12: Draghi quizzed on ECB liquidity programme and economic growth http://www.europarl.europa.eu/news/en/pressroom/content/20120423IPR43738/pdf
The Telegraph, 25.4.12: ECB chief Mario Draghi calls for euro 'growth compact' http://www.telegraph.co.uk/finance/financialcrisis/9225880/ECB-chief-Mario-Draghi-calls-for-euro-growth-compact.html
RTÉ, 25.4.12: ECB President Mario Draghi says Anglo Irish Bank promissory note contract will not be changed http://www.rte.ie/news/2012/0425/draghi-says-no-change-to-promissory-note-contract.html
The Guardian, 24.4.12: End of the road for European austerity? (via PressEurop) http://www.presseurop.eu/en/content/article/1865091-end-road-european-austerity

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