Mario Draghi has reminded the world that the euro area has a comfortable defense of a trillion euros.
While some of the major central banks have felt the impact of slowing emerging global markets on their plans to tighten monetary policy, the President of the European Central Bank has at least 700 billion. Euros ($ 795 billion.) Of the planned 1.1 trillion euros of its quantitative easing program . ECB officials have made it clear that they will continue to move the program of incentives, while repeating several times that they are ready to extend it if necessary.
At the annual meeting of the International Monetary Fund in the Peruvian capital Lima last weekend talks ranged between delegates fear that the economic problems from Beijing to Brazil hurt world production, and optimism that the worst fears did not materialize. After the speech of Chinese legislators monetary policy, explaining how they will manage the risks of its economy and ensure economic growth above 6% per year, Draghi said he was "calm" that everything is under control.
"When there is a downside, one begins to focus on the fact that there is a risk of worsening," - said Paul Sheard, chief economist at Standard & Poor's, in an interview in Lima. - "But the ECB says that" we do not set the limit of QE, we will not stop until we reach our goal. "If they do not do anything, the balance is still expanding."
According to the materials WELTRADE