Europe’s economic outlook and market conditions remain “daunting,” and without a broader fiscal union the single currency may not survive, said European Central Bank governing council member Ignazio Visco.
European Central Bank Governing Council member Ignazio Visco said policy makers are determined to act if inflation is forecast to remain below the central bank’s target of just under 2 percent over the next two years.
Bank of Italy Deputy Director General Ignazio Visco was nominated by Prime Minister Silvio Berlusconi to succeed Mario Draghi as the central bank’s governor, Ansa newswire reported today, without citing anyone.
Prime Minister Matteo Renzi’s government can’t impose a cap aimed at reining in state salaries on Bank of Italy officials’ pay as that would compromise the independence of the institution, European Central Bank President Mario Draghi said.
Italy has to show it can sustain a 2.09 trillion-euro ($2.88 trillion) public debt as it emerges from its longest recession since World War II, European Central Bank Governing Council member Ignazio Visco said.