ICYMI – Former ECB President Draghi says a eurozone recession is almost sure to happen

<p>Former European Central Bank President, and former prime minister of Italy, Mario Draghi was cited in a report on a conference organised by the Financial Times.</p><p>The FT is gated but other news services have picked up the main points made by Draghi:</p><ul><li>euro zone is nearly certain to experience a recession by the end of 2023</li><li>“The starting point of this recession is pretty high — we never had such low unemployment,” </li><li>“So we may have a recession, but maybe it is not going to be destabilizing.”
</li></ul><p>Comments were also reported from Belgian central bank governor Pierre Wunsch:</p><ul><li>acknowledged the impact of tighter monetary policy</li><li>said that growth risks are “tilted to the downside.” </li><li>euro zone is “entering some weak form of stagflation”</li></ul>

This article was written by Eamonn Sheridan at www.forexlive.com.