Bank of Italy head Mario Draghi says that to preserve financial stability, Italy must grow faster.
It is tough to repay debt without growth, Draghi warns.
Bond prices before the crisis did not reflect reality (too high) and they do not reflect reality now (too low) he says. ECB actions are designed to ensure there is no lasting damage from the market overshoot.
EUR/USD continues to consolidate in very thin choppy markets and is now at 1.3281.
