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MENAFN - 02/12/2012

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(MENAFN) The European Central Bank's (ECB) President, Mario Draghi, stated that the euro region's economy would begin to recover in next year's second half, reported Xinhua News.

Draghi said that recently, markets have been witnessing relatively peaceful climate, which shows that the one-currency bloc is capable of turning over sluggish growth and damaging finances.

On the other hand, Draghi stressed that euro zone governments must speed up moves towards a political and monetary incorporation and to work toward a banking union to evade the disintegration of the sector, which is already suffering from constant debt turmoil.

Furthermore, he asked euro zone governments to enhance competitiveness, with a focus on innovation and research to support flexibility in labor markets.

 






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