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    Draghi (ECB) - step up the reforms

    Mario Draghi speaks in Brussels:

    • other ( = fiscal) policies affect the speed and effectiveness of monetary policy
    • no room for delay in the reforms, because the costs of a delay are too high
    • fiscal policy may be a microeconomic policy tool
    • ECB is fully commited to reaching the goal and will succeed, a comitted central bank will always fulfill its mandate
    • we need clarification on the policy coordination setup in the Eurozone

     EURUSD vola slightly higher now and the pair is approachin 1,14, this region is where it spent the afternoon yetsterday.

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