1Key Capitol Hill Hearings
attention to that. draghi, hemario confirmed this last night, all of the warnings were there. if we voted to leave the eu, there would be difficulties in terms of our own economy and ofwth rates and instability the markets. we are prepared for them in terms of the bank of england and the treasury. difficultgoing to be economic times be a we must maintain our strong economy so we can cope with them. the challenges will be difficult and we will have to meet them. >> everyone across this house should be concerned the invitation from business and investors is the u.k. is less attractive. in these circumstances, will the prime minister consider suspending the chancellor's fiscal rural? mr. cameron: i don't think that will be the right approach. ist business needs to hear that we have taken huge steps over the last six years to get the budget deficit down, to make an attractive destination for investment. they want those things to continue. economic difficulties, one of the ways we have to react ourhat is to make sure finances remain strong. we should not have taken the last steps of the
, the european central bank and market -- mario draghi are printing of a lot of money to buy $80 billion of bonds. these are private bonds, private corporate bonds. they are interfering in the private markets. at the same time they are constantly trying to keep these big loaded banks afloat. suissee bank and credit are in deep trouble with derivatives portfolios. host: let's get the ambassador a chance to respond to that. guest: the first thing i have to say is united kingdom is a part of the eurozone. -- is not a part of the eurozone. they were never under the control of the european central bank. the european central bank is engaged in the same activities as the fed has here of stimulus, trying to maintain a level of inflation consistent with the objective of around 2%. i think that the european economies are recovering after a difficult time from the recession. all european countries and eurozone countries have positive growth in the region of 1.5% to 2%. my have in ireland with nearly 7% or 8% growth. we are seeing a turnaround from the economic crisis but there are challenges ahead.
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