ECB President Sees Encouraging Signs in UK Economy

Mr Draghi pointed to three of the weaker eurozone economies – Ireland, Spain and Portugal – saying they had made “impressive” improvements in their export performances.

He said that bank lending remained “anaemic” but that, too was improving for businesses and households.

He was speaking on a visit to London.

Despite his mildly upbeat tone, Mr Draghi’s ECB this month cut eurozone interest rates to a record low and latest figures show most of the eurozone economies are shrinking.

Even Germany, the strongest, barely experienced any growth in the first three months of this year.

Despite the cut, the euro as a currency has remained steady and Mr Draghi said the markets were “fully confident that the euro is a strong and stable currency”.

via BBC

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