EU in Need of Additional ECB Stimulus, Says Draghi

ECB President Mario Draghi stressed in a statement made last Monday that the eurozone is still in need of more monetary stimulus from the central bank in spite of the region’s apparent economic recovery. Draghi warned that the underlying inflation in the EU economy minus highly volatile food and energy prices are still too insignificant for the ECB to make any actual adjustments with regards to its current monetary policy. The central bank is currently facing mounting pressure from several EU politicians as they call for the ECB to instigate a full-on policy reversal as the European Union enters a new era of increased inflation rates and a recovering economic status.