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Eurozone recovery expected in 2013

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Eurozone recovery expected in 2013


The president of the European Central Bank says he expects to see the eurozone economy begin its recovery in the second half of 2013.

Speaking at the World Economic Forum in Davos in Switzerland, Mario Draghi said: “We foresee a recovery in the second part of the year. It is a situation where you have a positive contagion on the financial market and for the financial variables, but we don’t see this being transmitted into the real economy yet.”

Draghi added that 2012 would be seen as the year the euro was saved.

Governments of eurozone countries were praised for their progress with structural reforms and cutting deficits.

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