European Central Bank President Mario Draghi warned European leaders on Thursday that monetary policy alone would not be enough to jump-start the economy and that governments needed to do their job by pushing through structural reforms.
“I made clear that even though monetary policy has been really the only policy driving the recovery in the last few years, it cannot address some basic structural weaknesses of the euro zone economy,” Draghi told reporters.
“For that you need structural reforms, mostly driven to raise the level of demand, public investments and lower taxes. Even more importantly, one needs clarity on the future of our … monetary union,” he said after speaking to EU leaders.
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