Draghi says sovereign credibility must be earned


Mario Draghi, the governor of the Bank of Italy, on Wednesday said euro area countries would need to earn their credibility in markets through structural reforms.

At the 51st Annual Meeting of the Italian Banking Association, Draghi said that while in the past the cost of credit in various parts of the euro has not diverged significantly from that prevailing in Germany, this was no longer the case.

"The solvency of the states' sovereign is not acquired but must be earned through high and

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