Mario Draghi: The monetary policy of the European Central Bank and its transmission in the euro area Speech by Mr Mario Draghi, President of the European Central Bank, at the opening of the academic year 2012–2013, Università Bocconi, Milan, 15 November 2012.
*  *  *  Financial markets and the disruption caused to the transmission of monetary policy The year that is about to end will be remembered not only for the effects the European sovereign debt crisis has had on the euro and for the significant weakening of the European economy, but also for the responses to these challenges by the ECB, national governments and the European Union.