Stripping young people of their
futures is a grave inequality, former European Central Bank
chief Mario Draghi told Comunione e Liberazione's annual Rimini
rally Tuesday.
Draghi said the COVID crisis has spurred much needed aid and
subsidies but "we must give more to the new generations.
Draghi called for "massive investments" in young people and
education.
He noted that school closures had interrupted learning and
called for schools to reopen and stay open.
On the wider economy, Draghi said a return to growth was "the
absolute imperative".
He said that post-COVID reconstruction would be accompanied by
high debt levels.
"The pandemic threatens the economy and spreads uncertainty", he
said.
The role of economic policy was not to "increase uncertainty",
said the ex-ECB president.
Draghi said pragmatism was needed in the current circumstances.
"It is time for wisdom in future choices," he said.
Draghi said he thought that Europe would emerge "strengthened"
from the virus crisis.
Among the new tools that could be employed, he said, was a
proposed EU "treasury minister".
Draghi said he thought the European Commission had returned to
the centre of policy making.
He said he thought consumer spending could rise again with the
right policies.
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