The European Central Bank yesterday strengthened its commitment to ultra-low interest rates as president Mario Draghi said it was too early to declare the eurozone debt crisis over.
Tumbling sovereign bond yields in crisis-hit countries and better than expected economic data in recent weeks have raised hopes that the recovery is gathering pace, with confidence among businesses and households now at its highest level for two-and-a-half years.
But Mr Draghi dismissed as “premature” upbeat comments from José Manuel Barroso, European Commission president, who on Wednesday predicted that the eurozone would put the crisis behind it in 2014.
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