Central Banker Sees Structure of Euro Zone as ‘Unsustainable’

FRANKFURT — Mario Draghi, president of the European Central Bank, warned Thursday that the structure of the euro zone had become “unsustainable” and criticized political leaders he said have been slow to respond to the sovereign debt crisis.

“The configuration we had for 10 years, which was considered sustainable, has been shown now to be unsustainable unless further steps are undertaken,” Mr. Draghi told a committee of the European Parliament in Brussels.

In what may have been his bluntest criticism of political leaders since taking office in November, Mr. Draghi said that half-measures and delays by political leaders have made the euro zone crisis worse. He said they need to decide what kind of euro zone they want.  Read more

Categories: Economics, Europe, United States

Tagged as: ,

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.