Mario Draghi can enjoy the sun, but hard work lies ahead

Mario Draghi could be forgiven for lingering a little longer on the sun lounger this August. 

For the first summer since he took office as president of the ECB, the region’s four biggest economies are posting growth, spurred by a weaker euro and lower oil prices that are boosting consumer spending.

Fears about deflation have abated, and another year of ECB extraordinary stimulus means economic tailwinds are likely to persist.