ECB President’s Latest Speech

European Central Bank (ECB) President has pushed for a 'more European UK' in his latest speech.

In his latest statements, ECB President Mr. Mario Draghi suggested making of a new agency to especially help the troubled banks from putting any burdens over the governments through their bailout costs.

He said in his speech that London bankers should remind themselves about the UK's Eurozone dependency especially ahead of the planned referendum on EU membership in the year 2017.

Mr. Draghi mentioned in his statements about the depth of interconnection, which he said, lies between Britain and the Euro Area. He said that its time when Europe needs a more European UK and the UK needs a more British Europe.

Noting that the Eurozone is the UK's biggest export market, he once again bought to the knowledge of all about the 40 percent loans that have been presently made by banks in the region to non-eurozone members and which actually belong to British borrowers.

He urged about getting stability in the functioning of the region's economic system and their financial markets.

The above facts were revealed in the statements of the ECB president while he spoke to the listeners at the event that was recently held by the City of London Corporation.


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