ECB's Draghi Says Euro Zone On Track for Second Half 2013 Recovery
Published:Friday, 30 Nov 2012 | 3:15 AM ET
By: Reuters
European Central Bank President Mario Draghi said on Friday that budgetary consolidation in the euro zone would entail a short-term economic impact but the currency bloc was on track for a recovery in the second half of 2013.
http://media.cnbc.com/i/CNBC/Section...aghi-4-200.jpg
"We have not yet emerged from the crisis," Draghi told Europe 1 radio. "The recovery for most of the euro zone will certainly begin in the second half of 2013."
"It's true that budgetary consolidation entails a short-term contraction of economic activity, but this budgetary consolidation is inevitable," Draghi said, speaking through a translator.
Source : CNBC
Published:Friday, 30 Nov 2012 | 3:15 AM ET
By: Reuters
European Central Bank President Mario Draghi said on Friday that budgetary consolidation in the euro zone would entail a short-term economic impact but the currency bloc was on track for a recovery in the second half of 2013.
http://media.cnbc.com/i/CNBC/Section...aghi-4-200.jpg
"We have not yet emerged from the crisis," Draghi told Europe 1 radio. "The recovery for most of the euro zone will certainly begin in the second half of 2013."
"It's true that budgetary consolidation entails a short-term contraction of economic activity, but this budgetary consolidation is inevitable," Draghi said, speaking through a translator.
Source : CNBC
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