Mario Draghi's term as ECB president is about to end--on October 31st no less. But before he bows out, he issued a warning. In a statement he had been quoted saying that slowing global growth and the whole Brexit affair poses a "risk to growth" to the eurozone economy. This comes as Germany is faced with the threat of recession.
Post his his final ECB policy meeting in Frankfurt, Draghi expressed ECB's concerns that the economy, along with global economy, has considerably slowed this year and might carry on well into 2020.
With consumer and business confidence low and trade with the US hit by Donald Trump’s latest raft of import tariffs, According to an Italian economist, all risks are seen geared “to the downside” Darghi stated. former International Monetary Fund head Christine Lagarde will be succeeding the Italian economist on November 1st.
He adds: “The incoming data since the last governing council meeting in early September confirm our previous assessment of a protracted weakness in the euro area growth dynamics, the persistence of prominent downside risk and muted inflation pressure."
http://lexatrade.com/news/before-i-go-draghi-issues-warning-on-slowing-global-growth-and-chaotic-brexit
