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
- Google launches new email service dubbed "Inbox"
- Lax security in focus after attack at Canada's parliament
- Canada's parliament attacked, soldier fatally shot nearby
- China's Xiaomi shifts some smartphone user data out of Beijing on privacy concerns
- Attack on parliament, killing of soldier stun Canada's capital