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Countries need to invest more in other mechanisms to share the cost of shocks, some form of cross-country risk-sharing is essential to help reduce adjustment costs for those countries and prevent recessions from leaving deep and permanent scars.

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Reuters 10 years ago

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Mario Draghi

Mario Draghi

Mario Draghi (; born 3 September 1947) is an Italian banker and economist who succeeded Jean-Claude Trichet as the President of the European Central Bank on 1 November 2011. He was previously the governor of the Bank of Italy from January 2006 until October 2011. In 2014 Forbes nominated Draghi 8th most powerful person in the world.

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