ECB chief says it’s time for more integrationJune 21, 2014 - 17:05 AMT PanARMENIAN.Net - European Central Bank President Mario Draghi says current rules limiting European Union member states' budgetary policies — notably deficit spending — are not sufficient, and states should surrender some sovereignty in some economic policy areas, notably labor laws. According to the Associated Press in an interview with Dutch newspaper De Telegraaf published Saturday, June 21, Draghi said "economic policy cannot be a purely national matter" because of the impact European countries' policies have on each other. The AP says the Draghi's office confirmed that the remarks were accurate. In the same interview, Draghi said that a further decline in price inflation in the eurozone could be a reason for his office to begin buying government debt, as well as private loans, in a so-called "quantitative easing" program similar to those undertaken in the U.S. and Japan. Related links: Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Russia warns Armenia against “falling into West’s trap” Zakharova maintained, however, that anything that will benefit the people of Armenia can only be welcomed. CSTO: Armenia has not participated in secretariat’s work recently Recently Armenia has not participated in the work of the secretariat of the CSTO, Imangali Tasmagambetov said. Meeting with U.S., EU not against third parties, says Armenia The meeting scheduled for April 5 is dedicated to strengthening of the Armenia-EU-US cooperation, Yerevan added. Ucom launches network modernization efforts in few regions of Armenia In particular, on March 28, the legacy Mobile Switching Subsystem will be replaced with a new one. |