READY TO HELP: European Central Bank head Mario Draghi said Wednesday that the bank "stands ready to act" with measures to boost the struggling European economy which has declined for six straight quarters.
URGES GOVERNMENT ACTION: He told French lawmakers that national governments must take their own steps to promote growth by reforming their economies and make them more competitive.
THE STORY SO FAR: The ECB has cut its key interest rate to a record low of 0.5 percent, offered unlimited cheap loans to banks and outlined a plan to buy government bonds issued by indebted countries. Analysts say the bank could cut rates again.
- Politics & Government
- European Central Bank
- Mario Draghi