European Bank's Draghi says stimulus still needed

Frankfurt, Germany • European Central Bank head Mario Draghi insisted Thursday that the bank’s massive stimulus efforts are still needed even though the 19-country eurozone’s economy is strengthening. “The recovery is progressing and now may be gaining momentum,” Draghi said in a speech at a conference at Frankfurt’s Goethe University. He cautioned, however, that much of the improvement depended on the ECB’s monetary stimulus efforts and that it was “too soon to declare success.” Draghi’s stance...

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