Wolfgang Münchau sur la BCE

"[Matteo Renzi] should have said that he does not take advice from a central banker who is missing his own targets. If Mario Draghi, president of the ECB, had delivered his side of the bargain – an inflation rate of 2 per cent – the situation in Italy would not have been nearly as bleak as it is now.

I, too, believe Italy needs to reform. But slow progress on that score has nothing to do with Italy’s economic performance in the last quarter. After all, Germany also declined by the same percentage, while unreformed France did better, managing to avoid a contraction."

Lien FT.com (abonnés)