Brussels

Italy, Spain show signs of improvement says ECB

Draghi says eurozone doing better on fiscal consolidation

Italy, Spain show signs of improvement says ECB

Brussels, July 8 - Conditions are improving in the economies of Spain and Italy, Mario Draghi, president of the European Central Bank, said Monday. Draghi said he saw "some encouraging signs" of improvement although there is more work to be done. "There are fewer uncertainties than last year," he told a hearing of the European Parliament. Countries have made "good progress" in consolidation of their financial statements, although more work needs to be done in boosting competitiveness, said Draghi.

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