ABC: ECB chief urges closer integration in eurozone
BRUSSELS (AP) — European Central Bank chief Mario Draghi says the 17 countries that use the euro have to unify more closely like they did when creating the bank.
In a speech Thursday to the European Parliament, Draghi says a "new fiscal compact" is needed, that would force governments to play by more stringent rules. The move aims to prevent a repeat of the European debt crisis that's rocked the common euro currency.
A summit of EU leaders on Dec. 9th is expected to focus on how to make the eurozone more unified.
Draghi also says Wednesday's joint intervention by the world's leading central banks to make dollars more easily available is only a temporary measure.
