ECB: Need for fiscal support – Deutsche Bank

Deutsche Bank analysts note that ECB’s outgoing President Draghi spoke again about the need for fiscal support.

Key Quotes

“Bundesbank President Weidmann pushed back against the Draghi’s recent call for unanimity. Last week, Draghi had said in testimony that “the form in which dissent is made known is very important (…) in order not to undermine the effectiveness of our decisions.” Weidmann yesterday criticised that argument, albeit without singling Draghi out by name, saying that “intensive discussions” regarding policy, including QE, are “absolutely necessary.” Incoming President Lagarde will have her hands full when she inherits the Presidency next month.”