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10/2/14

ECB: Mario Draghi defends ECB as anti-austerity protests rock Naples -- by Graeme Wearden

If you want to seriously annoy a top policymaker, tell them people feel they’re doing a bad job.

Mario Draghi’s most animated moment in today’s press conference (coverage starts here) came when he was asked to comment on the protests that have been taking place in Naples today.

His passionate defence of the ECB’s role in the crisis – look at our interest rate cuts, our liquidity measures – suggests that the sight of his fellow Italians holding banners declaring “Block the ECB” and “Job insecurity, poverty, unemployment, speculation. Free us from the ECB!” may have hurt him.

Draghi urged critics to remember the situation in 2011 and 2012, when “the financial system seemed on the verge of collapsing”.

Read more: Mario Draghi defends ECB as anti-austerity protests rock Naples -- business live | Business | The Guardian

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