Draghi Predicts ECB Policy Will Foster Euro-Area Recovery
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European Central Bank President Mario Draghi said ECB policies and governance reforms in the euro area have revived confidence that will help foster a gradual economic recovery in the second half of next year.
A commitment in July to preserve the euro at any cost and the establishment of a single banking supervisor have improved financial-market sentiment, Draghi said in Brussels yesterday. One priority for 2013 is now to create a single resolution mechanism to complete Europe’s banking union, he said.