Post by account_disabled on Feb 25, 2024 0:52:15 GMT -6
The European economy is losing steam. Some have criticized European Commission President Ursula von den Leyen's focus on the green transition, saying it comes at the expense of businesses. Businesses have called for a coherent industrial strategy to support the EU's green goals. In response to such discontent, Von den Leyen this week appointed Draghi, former president of the European Central Bank and former Italian prime minister, as a special advisor to prepare a report on the future of European competitiveness. When it comes to rescue missions, Draghi certainly has credibility. As ECB president, Draghi is seen as having saved the euro, vowing to do “whatever it takes” to defend the currency from speculators during the darkest days of the eurozone debt crisis. It worked. In 2021, he was brought out of retirement and parachuted into the Italian prime minister's office to guide his country through the deep crisis unleashed by the Covid pandemic. He fixed Italy's faltering vaccination campaign and agreed with Brussels on the details of a potentially transformative billion reform and investment program.
Sce he was forced to leave that post after his coalition disintegrated last October, Draghi has virtually retreated from public view, scaling back his public engagements and most interview requests. Keeping a deliberately Job Function Email Database low profile, he made no public comments about his successor Giorgia Meloni or Italy's many challenges. In his only interview since he resigned, he talked about being a grandfather and said that he had no interest in any official or political position in Italy or abroad. But this month, Draghi poked his head above the parapet with an essay in The Economist, arguing for deeper fiscal integration within the eurozone to address common challenges like climate change. Von der Leyen's announcement about Draghi's new role a week later unleashed euphoria in Europe and Italy, where the local press applauded the return of “Super Mario.” Meloni also expressed his satisfaction, calling Draghi “one of the most influential Italians” and expressing hope that he would be attentive to his country in Brussels.
Chart of the day: maximum rates The European Central Bank yesterday raised its interest rates to a record high to fight persistently high inflation. The increase of 25 basis points, to 4 percent, affected the euro, which fell to its lowest level in three months. Goldman Marx A rather uninteresting race to elect a new leader of Greece's leftist opposition party, Syriza, has been livened up by a former Goldman Sachs analyst: writes Eleni Varvitsioti . Context: Former Syriza chief Alexis Tsipras suffered a crushing defeat to the centre-right New Democracy last June. Tsipras resigned after losing by a margin of more than 22 percent. Initially, three former Syriza ministers were set to run for Sunday's vote, which was delayed a week due to catastrophic flooding in central Greece. But then Stefanos Kasselakis, 36, decided to run and convince Syriza members that he was the right man for the job, despite his past at one of the world's leading investment banks. Kasselakis said in an Instagram clip that he saw firsthand how capital was “buying other people's labor cheaply” and how “arrogance makes money.” That's why he decided that this type of career was not for him, he said in the video that launched his campaign.
Sce he was forced to leave that post after his coalition disintegrated last October, Draghi has virtually retreated from public view, scaling back his public engagements and most interview requests. Keeping a deliberately Job Function Email Database low profile, he made no public comments about his successor Giorgia Meloni or Italy's many challenges. In his only interview since he resigned, he talked about being a grandfather and said that he had no interest in any official or political position in Italy or abroad. But this month, Draghi poked his head above the parapet with an essay in The Economist, arguing for deeper fiscal integration within the eurozone to address common challenges like climate change. Von der Leyen's announcement about Draghi's new role a week later unleashed euphoria in Europe and Italy, where the local press applauded the return of “Super Mario.” Meloni also expressed his satisfaction, calling Draghi “one of the most influential Italians” and expressing hope that he would be attentive to his country in Brussels.
Chart of the day: maximum rates The European Central Bank yesterday raised its interest rates to a record high to fight persistently high inflation. The increase of 25 basis points, to 4 percent, affected the euro, which fell to its lowest level in three months. Goldman Marx A rather uninteresting race to elect a new leader of Greece's leftist opposition party, Syriza, has been livened up by a former Goldman Sachs analyst: writes Eleni Varvitsioti . Context: Former Syriza chief Alexis Tsipras suffered a crushing defeat to the centre-right New Democracy last June. Tsipras resigned after losing by a margin of more than 22 percent. Initially, three former Syriza ministers were set to run for Sunday's vote, which was delayed a week due to catastrophic flooding in central Greece. But then Stefanos Kasselakis, 36, decided to run and convince Syriza members that he was the right man for the job, despite his past at one of the world's leading investment banks. Kasselakis said in an Instagram clip that he saw firsthand how capital was “buying other people's labor cheaply” and how “arrogance makes money.” That's why he decided that this type of career was not for him, he said in the video that launched his campaign.