Draghi says financial conditions have eased

In his address to the European Parliament on 25th February, 2015, Mario Draghi has said that there has been broad based easing of financial conditions in money and bond markets in the euro area. He pointed out that lending rates to households and firms have come down. Growth in credit to the private sector turned positive in December for the first time since mid-2012.

Coupled with what he calls a measurable improvement in indicators of business and consumer confidence, the euro area seems to be looking marginally better. Draghi sounds more confident and that should bolster the euro.

Schaeuble, the German Finance Minister although , still sounds pessimistic  on the abilities of the Greeks to adhere to norms.  On balance, Draghi sounds more convincing and accomodative.

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