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ECB's Draghi calls for euro zone stimulus to boost investment

ECB's Draghi calls for euro zone stimulus to boost investment
FILE PHOTO: European Central Bank (ECB) President Mario Draghi testifies before the European Parliament's Economic and Monetary Affairs Committee in Brussels, Belgium September 23, 2019. REUTERS/Francois Lenoir -
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FRANCOIS LENOIR(Reuters)
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ATHENS (Reuters) – The European Central Bank’s President called on Tuesday for euro-area-wide fiscal stimulus aimed at boosting investment, saying the latest steps in this direction are insufficient.

“The most effective response, however, would be an investment-led stimulus at the euro area level,” Mario Draghi said in Athens.

“The agreement on the Budgetary Instrument for Convergence and Competitiveness is a step in the right direction, but it does not yet meet the necessary criteria in terms of size or design.”

(Reporting By Lefteris Papadimas; Writing by Francesco Canepa in Frankfurt; Editing by Chizu Nomiyama)

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