October 1, 2019 / 5:35 PM / 2 months ago

ECB's Draghi calls for euro zone stimulus to boost investment

FILE PHOTO: European Central Bank (ECB) President Mario Draghi speaks at a news conference on the outcome of the meeting of the Governing Council, in Frankfurt, Germany, September 12, 2019. REUTERS/Ralph Orlowski

ATHENS (Reuters) - The European Central Bank’s President called on Tuesday for euro-area-wide fiscal stimulus aimed at boosting investment, saying the latest steps in this direction are insufficient.

“The most effective response, however, would be an investment-led stimulus at the euro area level,” Mario Draghi said in Athens.

“The agreement on the Budgetary Instrument for Convergence and Competitiveness is a step in the right direction, but it does not yet meet the necessary criteria in terms of size or design.”

Reporting By Lefteris Papadimas; Writing by Francesco Canepa in Frankfurt; Editing by Chizu Nomiyama

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