Bloomberg: Draghi Rebuts Trump Lines on Currency Wars, Bank Rules

Mario Draghi took the Trump administration to task, addressing recent assertions that Germany is a currency manipulator and warning against the rollback of post-crisis financial regulation.

Speaking at a hearing in Brussels on Monday, the European Central Bank president responded to the charge by U.S. National Trade Council Director Peter Navarro and others that Germany is using a “grossly undervalued” euro to gain an unfair trade advantage.

“The ECB has not intervened in the foreign exchange markets since 2011,” Draghi told European Union lawmakers, adding that Germany’s trade surplus was the result of productivity gains. “Germany has a significant bilateral trade surplus with the U.S., a material current account surplus, but it has not engaged in persistent one-sided intervention in the foreign exchange market.”

The full article is available here.

Related Posts

Previous Post
A new proposal for getting non-performing loans at European banks off of balance sheets
Next Post
IHS Markit and Pirum Systems to Provide SFTR Reporting Solution

Fill out this field
Fill out this field
Please enter a valid email address.


Reset password

Create an account