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ECB Live Video Press Conference with Mario Draghi, July 16, 2015

ECB Live Video Press Conference with Mario Draghi

ECB President Mario Draghi and Vice-President Vítor Constâncio explain the Governing Council’s monetary policy decisions and answer questions from journalists at today’s press conference. The live video press conference in scheduled to begin at 8:30 EST/14:30 CET

The upcoming ECB meeting will be mostly focused on Mario Draghi’s speech, and is quite likely that the Greek matter will overlap the economic policy this month. Since the Parliament voted, the ECB is expected to rise the ELA limit for the country that’s desperate for cash. If that’s the case, the EUR may see some upward relieve rallies, albeit selling interest will be waiting on those spikes.
The vote by Greek lawmakers improves the chances that Greece will remain in the eurozone, and could encourage the European Central Bank to increase the amount of emergency loans it provides to Greek banks. If so, the Greek banks might reopen. The European Central Bank forced the banks to close on June 29 when it capped the emergency cash it provides to them at €89 billion.

Timothy Kelly
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