ABU DHABI (MNI) – The Eurozone economy is weak and downside risks
prevail, but there is tentative evidence of stabilization, European
Central Bank President Mario Draghi said Thursday.
“We see a softening business cycle in Europe with significant
downward risks. We also see some tentative signs — I have to be quite
cautious here — some tentative signs of stabilization of economic
activity at low levels,” Draghi told reporters at a press conference on
the margins of a seminar of Eurosystem and Gulf country central banks.
“But as I said, there are significant downside risks to this view,”
he added.
As for interest rates, the ECB chief said, “We never pre-commit.”
“There is an effort by Europe, but not only by Europe, to increase
the resources available for the IMF,” Draghi confirmed. “They will be
channelled to the IMF in a variety of ways and the figure that now
circulates most is 200 billion from Europe. But final figures are not
defined yet.”
–Frankfurt bureau tel.: +49-69-720142. Email: dbarwick@marketnews.com
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