Meeting Mario Draghi

On March 14th, European Central Bank President Mario Draghi received the Schumpeter Award of the Austrian Schumpeter Society. At the event, Draghi discussed with Karl Aiginger the current fragile recovery in Europe and how it could be supported by an economic policy providing more stability for Europe.

Governance reforms, such as a Fiscal and Banking Union, as well as a strategy changes for Southern Europe have already been proposed in the first two policy briefs of the WWWforEurope project, "Reconciling the short and the long run: governance reforms to solve the crisis and beyond" by Karl Aiginger, Olaf Cramme, Stefan Ederer, Roger Liddle, and Renaud Thillaye and "Policy options for the development of peripheral regions and countries of Europe" by Karl Aiginger, Matthias Firgo and Peter Huber.

Furthermore closing the gaps between current unemployment, research expenditures and energy efficiency, and the goals of the Europe 2020 strategy could make Europe more dynamic, more inclusive and more sustainable. Mario Draghi and Karl Aiginger agreed that only by taking action across all areas - fiscal policy, monetary policy, and governance reforms - resilience and dynamics in Europe can be promoted.