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ECB chief does not expect debt crisis to be over soon
Jan 27, 2012, 15:02 GMT
Davos, Switzerland - European Central Bank (ECB) chief Mario Draghi said Friday at the World Economic Forum that the European debt crisis would continue to burden economies for some time.
Risk premiums of European crisis countries might remain on an increased level for a longer period to come, he said at the annual conference in Davos, Switzerland.
Draghi also warned against the negative effects of fiscal austerity measures among eurozone members, as such policies were already stopping growth in several countries.
He was more optimistic about financial markets and Europe's banks, noting that certain types of trade among banks had picked up since December and that banks had improved their capital base.
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