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Euro zone growth relies on global pull - ECB's Draghi

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Euro zone growth relies on global pull - ECB's Draghi
FILE PHOTO: Mario Draghi, President of the European central Bank (ECB) attends a news conference on the outcome of the Governing Council meeting at the ECB headquarters in Frankfurt, Germany, March 7, 2019. REUTERS/Kai Pfaffenbach/File Photo/File Photo   -   Copyright  Kai Pfaffenbach(Reuters)
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WASHINGTON (Reuters) – The euro zone’s growth prospects depend on those of the rest of the world, European Central Bank President Mario Draghi told fellow financial policymakers on Friday.

“The outlook for the euro area fundamentally depends on global growth momentum,” Draghi told the International Monetary and Financial Committee of world central bankers and finance ministers in Washington.

“The escalation of trade tensions, the downturn in global manufacturing and a turn in the tech cycle have increased the euro area’s external headwinds,” he added.

(Reporting By Balazs Koranyi; Writing by Francesco Canepa in Frankfurt; Editing by Catherine Evans)

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