Still from on-mic post-conference chat between Constâncio, left, and Draghi. Business Insider

Mario Draghi and his VP caught joking on mic

They won’t move the markets with their words, it seems.

AT THE CONCLUSION of the Q&A following last week’s ECB press conference, ECB president Mario Draghi and vice president Vítor Constâncio forgot to mute their mics before sharing the following exchange:

  • Draghi: “Well, I don’t think, there shouldn’t be any market reaction.”
  • Constancio: “No, no.”
  • Draghi: “I guess, no? If there is, I don’t know what to say.”
  • Constancio: “No, no.”
  • Draghi: “It’s more boring…”
  • Constancio: “No, markets were not expecting much…”
  • Draghi: “Ok.”

Trust them – they know what they’re doing.

Watch the video here

The full video is up on the ECB’s website, where they post recordings from all of their press conferences. The clip above comes from the very end of the video.

Of course, when they uploaded it to YouTube, they made sure to cut out the last 30 seconds or so.

- Matthew Boesler, Robert Libetti


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