Mario Draghi Quotations

There is a recovery, it's doubtless under way. There are signs that indicate that the economy is improving.

Since the 1990s, the economy has been bogged down. New players have emerged. They are formidable in Asia, but also present in Latin America and in Central and Eastern Europe.

There is no reason for Italy not to look towards the future with enthusiasm. We have our problems, but we will solve them, believing that we have all that we need to be able to do so; talent, capital and the attention of the international community.

Productivity growth is the only possible way to achieve prosperity, to create a solid, sustainable foundation for wage increases and to ensure the country's development, for ourselves and for future generations.

There is still uncertainty, however, about the extent and durability of the country's economic growth, which continues to be weighed down by unresolved structural problems.

In Italy, after stagnating in 2005, the economy now shows some signs of recovery.

Governments must commit to sound economic and financial policies. This is how we ensure reform in the euro area - and our independence.

In the European context tax rates are high and government expenditure is focused on current expenditure. A 'good' consolidation is one where taxes are lower and the lower government expenditure is on infrastructures and other investments.

Interest rates do not have to be identical across the whole euro area, but it is unacceptable if major differences arise from broken capital markets or concern about a euro area break-up.

Productivity growth is the only possible way to achieve prosperity.

I trust the people who are working with me. I delegate.

We won't make the weak stronger by making the strong weaker, as a very wise man once said. That applies to the economy as well. If Germany were less competitive, the euro area as a whole would lose, because less could be produced then.

In Latin you say: "Repetita iuvant - to repeat is beneficial". The fewer changes made in a country, the more often I repeat my messages. And it works.

The insurance companies do not refer to the key policy rate when they send their statements. We can only control that rate. Long-term interest rates are determined largely by global financial markets.

Europe's financial system is fragmented, although the gap in funding costs for banks within the euro area is no longer as wide as it was two years ago. But in lending the differences are still very large, and in some countries the credit flow is disrupted.

There is no better protection against the euro crisis than successful structural reforms in southern Europe.

Within our mandate, the ECB is ready to do whatever it takes to preserve the euro. Believe me, it will be enough.

If we do not resolve the euro crisis, we will all pay the price. And if we do resolve it, we will all benefit, particularly German taxpayers and savers.

The French protectionist model is doomed to failure. Better to follow the examples from London and Berlin.