Euro rose after Mario Draghi’s Jackson Hole speech. Draghi addressed issues of root causes of financial crisis, including large current account deficits, large external debt positions and increased lending to domestic firms and households. His mentions of restoring confidence through European Central Banking, addressing structural weakness in productivity, termination of reform agenda and higher labor mobility within Euro area, Fiscal positions need to be maintained and health of the balance sheet restored. Monetary policy can support the reform by safeguarding price stability, but cannot substitute for other actions from the private sector. Banking, Fiscal, Economic and political Unions will also safeguard stable transition of monetary policy.