Mario Draghi, president of the European Central Bank (ECB), yesterday (January 22) praised the euro area's progress during the past year and the confidence it helped create, but warned against complacency in 2013.
"The darkest clouds over the euro area subsided" in 2012, he said, but much of this success was predicated upon the expectation that countries' reformation will continue.
Draghi, speaking in Frankfurt, urged countries to move away from debt-financing in 2013, and employ structural refo
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