Within our mandate, the ECB is ready to do whatever it takes to preserve the euro. Believe me, it will be enough.
Mario DraghiRead
Governments must commit to sound economic and financial policies. This is how we ensure reform in the euro area - and our independence.
Interpretation
Governments need to adopt responsible economic policies to achieve reform and maintain independence.
In this quote, Mario Draghi emphasizes the importance of sound economic and financial policies by governments as a prerequisite for reform in the euro area. He suggests that such policies not only promote economic stability but also safeguard the independence of the region, indicating a direct link between good governance and successful economic outcomes.
In practice
During a conference on economic development, one can quote Draghi to stress the importance of fiscal responsibility.
Within our mandate, the ECB is ready to do whatever it takes to preserve the euro. Believe me, it will be enough.
Over the years, the U.S. economy has shown a remarkable ability to absorb shocks of all kinds, to recover, and to continue to grow. Flexible and efficient markets for labor and capital, an entrepreneurial tradition, and a general willingness to tolerate and even embrace technological and economic change all contribute to this resiliency.
Thus, the same blow that strikes interest down will send wages up.
When the word 'morality' comes up in connection with economics, income distribution and financial stability are usually the issues. Is it moral for rich countries to use such a high proportion of the world's resources or for investment bankers to earn large bonuses?
Without calculation, economic activity is impossible. Since under Socialism economic calculation is impossible, under Socialism there can be no economic activity in our sense of the word All economic change, therefore, would involve operations the value of which could neither be predicted beforehand nor ascertained after they had taken place. Everything would be a leap in the dark. Socialism is the renunciation of rational economy.
All money is a matter of belief.
We have designed a capitalist system wrong. We assume human beings are one-dimensional, all they do is make money, so we've created a money-centric world.
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