Rome

Draghi warns of German slowdown, plays down inflation risks

ECB chief says states' actions have averted collapse of euro

Draghi warns of German slowdown, plays down inflation risks

Rome, November 7 - European Central Bank (ECB) President Mario Draghi on Wednesday warned that Germany, the eurozone economy's locomotive, is starting to feel the weight of Europe's sovereign debt crisis. Despite warning that Germany was showing signs of entering a recession, Draghi also pointed to positive developments in the eurozone crisis, saying that a collapse in the single-currency project had been averted as many countries had made 'extraordinary progress' in implementing reforms necessary for sustainable growth. Playing down worries that the ECB's bond-buying actions may stoke inflation in the eurozone Draghi, speaking in Frankfurt, said, "Our actions do not generate inflation". The ECB chief added that "inflation risks in the medium term are currently very low," in part due to the situation of "general weakness in the economy".

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