Mario Draghi News
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Banks should be allowed to repackage assets such as loans and sell them on to investors to maintain the flow of credit to the economy, said Deutsche Bank AG co- Chief Executive Officer Juergen Fitschen.
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It was 95 degrees Fahrenheit outside the Los Cabos conference center as President Barack Obama and fellow Group of 20 leaders pressed Chancellor Angela Merkel to take the heat out of the crisis-wracked euro area.
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Germany’s bonds dropped for a second day as investors weighed what Federal Reserve Chairman Ben S. Bernanke will say about the central bank’s asset-purchase program when he holds a press conference tomorrow.
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European car sales fell to a 20-year low in May as record joblessness caused by a recession in the euro area reduced demand at PSA Peugeot Citroen, Renault SA, Fiat SpA and General Motors Co.
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The euro has overtaken Sweden’s krona as this year’s best performing major currency, revealing how far European Central Bank President Mario Draghi is falling behind his contemporaries in the foreign-exchange wars.
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German investor confidence rose in June amid signs the recovery in Europe’s largest economy is gathering pace.
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Spain met its upper goal at a bill sale even as its borrowing costs rose ahead of the start of the U.S. Federal Reserve’s two-day meeting to review monetary policy.
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Updated 40 minutes ago
European Central Bank President Mario Draghi said the central bank is considering further non- standard monetary policy tools and will deploy them if circumstances warrant.
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The euro declined versus the dollar after European Central Bank President Mario Draghi said the central bank is considering further non-standard monetary policy tools and will deploy them if circumstances warrant.
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Spanish Budget Minister Cristobal Montoro dismissed criticism from Mario Draghi that Spain has increased taxes too much as it tries to cut the deficit.
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