ECB's Draghi pledges to do whatever needed to save euro
LONDON, July 26
LONDON, July 26 (Reuters) - European Central Bank President Mario Draghi pledged on Thursday to do whatever was necessary to protect the euro zone from collapse, including fighting unreasonably high government borrowing costs.
"Within our mandate, the ECB is ready to do whatever it takes to preserve the euro. And believe me, it will be enough," he told an investment conference in London.
"To the extent that the size of the sovereign premia (borrowing costs) hamper the functioning of the monetary policy transmission channels, they come within our mandate."
The euro rose and German bond futures turned negative after the comments.
- Tweet this
- Share this
- Digg this
- Malaysian plane still missing; questions over false IDs
- Malaysian jet's disappearance among rarest of aviation disasters
- Malaysia Airlines says "fearing the worst" for missing jet
- Australia's Wesfarmers plans A$1.12 billion insurance spinoff - report
- Malaysia probing two more passengers on missing flight - source