ECB Helped Taper Off Inequality, Says Draghi

    ECB President Mario Draghi argued in a statement last Monday that the central bank’s efforts to maintain the union’s low interest rates has actually helped to taper off inequality rates within the eurozone and minimize unemployment rates. In a conference at a Lisbon university, Draghi stressed that the easy-money stance of the central bank has helped to curb the “highly-destabilizing” inequality levels in the EU, although several German officials in the past have repeatedly questioned this easy-money stance, as this apparently endangers pensioners and savers. This statement from Draghi comes at a very delicate time for the central bank as the ECB is now in the process of halting certain policies, including its negative interest rate program and its €2.3 trillion or $2.6 trillion bond-buying scheme.