Eurozone PMI Data and Draghi Exit

Eurozone PMI Data and Draghi Exit

Written by: PaxForex analytics dept - Thursday, 24 October 2019 0 comments

Mario Draghi will chair his last ECB meeting today and leave the European Central Bank divided like it has never been before. His actions as ECB President will have an impact on the Eurozone long after her has moved on. Some credit him with saving the breakup of the Euro, but history will be the judge if he may have started the total destruction on the it. The economy remains fundamentally weak, the risk of deflation elevated and the fiscal outlook unstable. All this while Draghi has ushered on the era of negative interest rates in the Eurozone. October 31st will be his official exit date, his often quoted mandate of price stability has resulted in failure and split the ECB Governing Council in regards his strategy.