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Draghi's dangerous farewell
The risks of further monetary stimulus measures by the European Central Bank in the final weeks of Mario Draghi's term as president outweigh the benefits
Ashoka Mody
10 Sep 2019
Mario Draghi risks deepening the eurozone’s problems in the final weeks of his eight-year term as president of the European Central Bank. He has promised that the ECB will reduce interest rates further to spur the eurozone economy. But policymakers have room for only modest rate cuts, which will do little to boost growth – and will put potentially intolerable pressure on the eurozone’s fragile banks.