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Draghi throws crisis back to governments

Wednesday, April 25, 2012 - 01:44

April 25 - European Central Bank President Mario Draghi gave no indication on Wednesday that the ECB was poised to provide more support for banks or governments but also said the time was not right to consider rolling back its crisis-fighting measures. (Rough cut - no reporter narration)

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(ROUGH CUT - NO REPORTER NARRATION) There are growing expectations in financial markets that the ECB will have to ride to the rescue again with Spain under intense pressure, the Dutch government having collapsed over budget plans and latest data showing the euro zone is being driven back into recession. The word from the currency bloc's central bankers is very different - having created more than a trillion euros of low-cost, three-year money via so-called LTROs to avert a credit crunch, governments and banks have been given space to cut debt and clean up balance sheets. Draghi emphasised that message in an address to the European Parliament's economic committee.

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Draghi throws crisis back to governments

Wednesday, April 25, 2012 - 01:44