MW: ECB's Draghi: no doubts about strength of euro
By Kim Hjelmgaard
LONDON (MarketWatch) -- European Central Bank President Mario Draghi on Monday told an economics committee at the European Parliament that the fiscal "compact" agreed at the European Union summit on Dec. 9 was essential for resolving the region's debt crisis and demonstrated a clear trajectory for the euro zone. He said that he had no doubts about the strength of the euro currency and its "irreversibility." Separately on Monday, in an interview with the Financial Times, Draghi cautioned that euro-zone nations that depart the euro-area bloc would face severe economic difficulties, including high inflation. He also said that such nations would still need to pursue structural reforms.
