Dec. 15 (Bloomberg) -- European Central Bank President Mario Draghi said the euro area may not be able to escape a recession due to governments’ austerity measures.
“The unavoidable short-term contraction may be mitigated by the return of confidence,” Draghi said during a speech in Berlin today. “But in the medium term, sustainable growth can be achieved only by undertaking deep structural reforms that have been procrastinated for too long.”
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