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News Summary: ECB warns of weak economic growth

  • Article by: The Associated Press
  • Associated Press
  • November 8, 2012 - 1:15 PM

STILL WEAK: European Central Bank President Mario Draghi said the economy of the 17 countries that use the euro remains weak and will struggle to grow.

RATE UNCHANGED: He spoke Thursday after the ECB's governing council left its key interest rate unchanged at the record low of 0.75 percent.

UP TO GOVERNMENTS: Draghi insisted the central bank has done its part to haul the eurozone out of its financial crisis. It is up to governments to improve investor confidence in the currency bloc by fixing their shaky public finances and cutting the bureaucracy and regulations that hinder stronger growth, he said.

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