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ECB’s Draghi Says Euro Zone at Risk of Lasting Economic Damage

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Years of weak growth have eroded euro zone productivity, raising the risk of permanent damage to its economic health, the European Central Bank’s president said on Thursday, underscoring his argument that monetary policy alone cannot end the bloc’s economic malady.

“There are many understandable political reasons to delay structural reform, but there are few good economic ones. The cost of delay is simply too high,” Mario Draghi told the Brussels Economic Forum.

Reuters

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.
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