Recovery in the Eurozone still weak – ECB’s Draghi

FXStreet (Mumbai) - The European Central Bank President Mario Draghi, while addressing Italian lower house, reiterated that the short-term outlook for the Eurozone economy appears favorable, although the economic recovery is still weak.

Draghi once again stressed that weak oil prices, accommodating monetary policy and reforms are supporting the economic activity, while stating that only structural reforms can lead to economic growth.

So far Draghi has refrained from giving anything new to the markets. He has stated his short-term upbeat view on the economy quite a few times since the beginning of the current month.