Draghi Hails ‘Positive Contagion’ as Euro Markets Stabilize
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European Central Bank President Mario Draghi said the euro-area economy will slowly return to health in 2013 as the region’s bond markets stabilize after three years of turmoil.
“We have signs that fragmentation is being gradually repaired,” Draghi told reporters in Frankfurt today after the ECB kept its benchmark interest rate at 0.75 percent. “We spoke a lot about contagion when things go poorly but I believe there is a positive contagion when things go well. And I think that’s also what is in play now. There is a positive contagion.”