Draghi: European banking supervision three years on

Comments???
Come on smarties??
😀😱😱
Here
At euro area level, we currently see no signs of credit-fuelled housing bubbles, which are at the root of most serious financial crises. .....has risen, on average, by 2.9% per year – well below the growth rates of up to 12% recorded ....
We have also seen little evidence that negative interest rates are undermining bank profitability,...
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Translation - all is good, low rates for 2-3 years more.
TARGETS 1.1550. 1.15
1.1440
1.1330... to check.
Sell next pullback maybe 1.1440-1.1515 next week(s).
1.11 possible but check later.

he seems happy to keep rates low

We are now three years into the life of European banking supervision, and the track record so far is encouraging. Though the single supervisor is still a young and developing institution, it has in many ways lived up to the high expectations that accompanied its founding.
Rigorous and uniform supervision has led to higher levels of capital and a more resilient sector overall. The credit risk of banks is now less determined by the credit risk of their country of establishment.
Healthier banks have, in turn, helped transmit the ECB’s accommodative monetary policy more evenly across the euro area, leading to a stronger and broader recovery. And the new supervisory framework has helped mitigate any financial stability risks that might have arisen as a result.
In short, European supervision and European monetary policy have proven to complement each other well. It is an approach which confirms the synergies that can be reaped when the right policies are combined at euro area level.

I think Draghi is convincing. There is no doubt about his commitment to European Union. As KPMG says above, low rates seem to be on the agenda. But, if this area of (banking) reform is supported widely throughout the EEC - and we have no reason to doubt it - then this is good for the Euro as a currency. It helps to correct one of the flaws in European unity - a central fiscal agenda.

Draghi's tenure will last 2 more years. ECB's policy will start to change 4-6 months before his departure no matter what he, or anybody else for that matter, says and no matter of EU fundamentals.

But Fed is first with a new head, so it's there where we'll see the first meaningful policy change.

Draghi Is convincing, diligent, my concern though is what will this look like 6-12 months after the money massage eventually has to stop and the EU stand on its real feet, ?

No change in EURUSD price during Mario Draghi's speech