Draghi calls for 'good' form of bank deleveraging

Says recovery contingent on pursuing policies that led to 'return in confidence'

Mario Draghi

Eurozone recovery is conditional on "pursuing the very policies that have brought about the return of confidence", including growth-friendly fiscal consolidation, structural reforms and a committed monetary policy, European Central Bank (ECB) president Mario Draghi said in a speech in Vienna yesterday.

Draghi called for a "good" form of bank deleveraging, where equity is built up, deposits rise and balance sheet reduction takes the form of swift asset clean-up, rather than a slow scaling back of

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