Draghi: Bank of Italy will affirm its authority

The Bank of Italy's new governor, Mario Draghi, said on Tuesday 17 January that the central bank retains its authority and will help shape Europe's monetary policy.

Draghi made the remarks in a letter sent to employees on Monday, the day he took charge at the bank, and made public on Tuesday.

"The Bank of Italy has the resources to affirm its authority in shaping Europe's monetary policy, to merit the international prestige which history assigns it," Draghi wrote.

"The challenges posed to Italy

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