European Central Bank President Mario Draghi said on Friday that he considered loose talk on currencies to be "inappropriate, fruitless and self-defeating". Speaking in Moscow ahead of a meeting of Group of 20 finance officials, Draghi declined - in line with policy - to say whether the euro's exchange rate was appropriate but noted it was in line with long-term averages in nominal and real terms. He declined to pre-empt a debate on the wording of a G20 communique on currencies and borrowing by governments, but made it clear that he favoured structural reforms as a path to growth rather than ramping up state ... (full story)