European Central Bank chief: governments must help economy

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European Central Bank President Mario Draghi addresses European Parliament members at the European Parliament in Brussels, Monday, Sept. 23, 2019. (AP Photo/Francisco Seco)

The head of the European Central Bank says the economy in the 19-country eurozone is not showing signs of a rebound and urged governments to help by spending more on top of the central bank’s latest package of stimulus measures.

Mario Draghi said in remarks Monday before the European Parliament’s economic and monetary affairs committee Monday in Brussels that recent data “do not show convincing signs of a rebound in growth in the near future” and that risks are “tilted to the downside.”

He urged governments that were in good financial shape to “act in an effective and timely manner.” Draghi’s pleas have met a cool response from governments. Germany, the largest euro member state, has rejected the idea of borrowing more to investing in infrastructure.

The Associated Press

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