The Central Bank Council of the ECB has met in this week, but he has decided nothing of importance. It was for him to do anything. Because this week is of the summit of heads of state and government, intend to decide in Brussels, the 750 billion Euro EU funds for the modernisation of the European economy.
ECB-President Christine Lagarde has repeatedly after the meeting, which stressed its predecessor, Mario Draghi, often without the governments had listened to: Sustainable economic growth in the Euro zone also depends on the willingness of national governments to structural reforms. For many heads of government promising idea to take money from the new EU Fund, in order to plug this hole in the budget, or to ensnare groups of voters, financially, would be a safer way to take advantage of existing growth potential.
Therefore, the resistance of the Dutch Prime Minister, Mark Rutte, against an uncontrolled allocation of funds for the whole of the EU is a good sign, even if many governments are up in arms.Updated Date: 16 July 2020, 14:19