Shows & Panels
- The 2014 Big Picture on Cyber Security
- AFCEA Answers
- Ask the CIO
- Building the Hybrid Cloud
- Connected Government: How to Build and Procure Network Services for the Future
- Continuing Diagnostics and Mitigation: Discussion of Progress and Next Steps
- Federal Executive Forum
- Federal Tech Talk
- The Future of Government Data Centers
- The Future of IT: How CIOs Can Enable the Service-Oriented Enterprise
- The Intersection: Where Technology Meets Transformation
- Maximizing ROI Through Data Center Consolidation
- Mitigating Insider Threats in Virtual & Cloud Environments
- Modern Mission Critical Series
- Moving to the Cloud. What's the best approach for me
- Navigating Tough Choices in Government Cloud Computing
- The New Generation of Database
- Satellite Communications: Acquiring SATCOM in Tight Times
- Targeting Advanced Threats: Proven Methods from Detection through Remediation
- Transformative Technology: Desktop Virtualization in Government
- The Truth About IT Opex and Software Defined Networking
- Value of Health IT
- Air Traffic Management Transformation Report
- Cloud First Report
- General Dynamics IT Enterprise Center
- Gov Cloud Minute
- Government in Technology Series
- Homeland Security Cybersecurity Market Report
- National Cybersecurity Awareness Month
- Technology Insights
- The Cyber Security Report
- The Next Generation Cyber Security Experts
Shows & Panels
Key quotes from ECB head Draghi's press briefing
Thursday - 1/10/2013, 10:13am EST
FRANKFURT, Germany (AP) - At his monthly news conference following the European Central Bank's policy-setting meeting, President Mario Draghi on Thursday answered questions from reporters.
Here are some highlights of the things he said:
_ ECONOMIC GROWTH
The ECB left its key interest rate unchanged despite economic weakness in the 17-country eurozone. Draghi said a return to economic growth was still months away.
"The economic weakness in the euro area is expected to extend into 2013 ... Later in 2013 economic activity should gradually recover."
_ TURNING POINT?
Draghi acknowledged that financial markets had improved significantly in recent months - government borrowing rates are down, stock markets are up and deposits are returning to banks in financially shaky countries like Spain. However, he said that was not enough to produce a turnaround in the economy.
"To define a turning point you need a lot of things beside financial market stabilization."
Draghi said government reforms were necessary to make Eurozone economies more competitive and return to growth. In the short term, however, governments' efforts to lower debt through raising taxes and cutting spending will keep hurting the economy.
Draghi insisted there was no way around the budget cuts or the reforms.
"Further structural reforms should be rapidly implemented to make the euro area a more flexible, dynamic and competitive economy. In particular, product market reforms to increase competition and competitiveness are essential, accompanied by measures to improve the functioning of labor markets."
The ECB aims to keep the inflation rate in the eurozone close to but below 2 percent. The rate has remained stubbornly above that for months and only recently began falling _ it was 2.2 percent in December.
"Inflation rates have declined over recent months, as anticipated, and are expected to fall below 2 percent this year."
(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)