Trichet’s last conference: Thanks God he’s gone
Last Thursday, Trichet offered his last speech as ECB’s president. For me, this is a good new because I think that some of their actuation related to interest rate has been pretty conservative. In fact, the main goal of ECB’s is preserve prices stability. So, when prices increase ECB rise the interest and backwards.
However, during last months prices didn't increase but instead of, lowing interest rates Trichet just keep it stable, and certainly this decision has had bad consequences for Spanish economy and recovery.
As a result, I expect that Draghi, the new ECB’s president practise a different monetary policy less conservative than his predecessor's policy because it could help in the recovery of consumerism. Although, of course it is not going to be the definitely measure to solve crisis.
(Maybe the topic is a bit bored but in exchange for this inconvenient I wrote a short entry. Could anybody correct my mistakes?thank you very much in advanced)
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