Just hours after Angela Merkel’s victory in the German election, President of the European Central Bank Mario Draghi said the ECB was willing to provide long-term loans to banks when necessary.
He also indicated that a more stable economic environment boded well for Europe:“Measures of confidence and surveys of production have given some support to the view that euro area economic activity should continue its slow recovery in the current quarter,” said Draghi
Speaking about Greece, Draghi said that the country’s debt was currently sustainable, but added it was too early to say whether it would need more aid. This would depend on factors such as it having access to capital markets.
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