Key issues

Low interest rates: for how long?

The farewell of (Super) Mario Draghi

• Mario Draghi ended his eight-year mandate at the ECB on October 31, leaving the central bank at the cutting edge of monetary policy. • Under Draghi’s leadership, the ECB has offered significant support to the recovery of the euro area. However, the latest measures have raised doubts over the margin for action and effectiveness of monetary policy. • Christine Lagarde, with a less technical profile but a vision of continuity in monetary policy, takes over in a sombre economic environment in which signs of fragmentation between ECB members have...