Navigating Economic Crises: The ECB's Response

This chapter explores the challenges faced by the European Central Bank (ECB) under Mario Draghi's leadership during economic crises, focusing on internal disagreements and the implementation of unconventional monetary policies. It discusses pivotal moments like Draghi's 'whatever it takes' speech, the evolution of crisis management tools during the COVID pandemic, and the importance of coordination between fiscal and monetary authorities. The dialogue emphasizes the implications of these policies on the banking system, financial stability, and the necessity for central banks to effectively communicate future economic scenarios.