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ECB's Draghi: euro "absolutely not" in danger as debt crisis simmers, currency is irrevocable

Published on July 21, 2012; Published on July 21, 2012

Topics :: European Central Bank , Le Monde , BERLIN

BERLIN - The head of the European Central Bank says the euro is "absolutely not" in danger as the continent's financial crisis simmers.

Mario Draghi said in an interview with French daily Le Monde posted on the bank's website Saturday that predictions of a eurozone "explosion" underestimate "the political capital that our leaders have invested in this union, as well as the support of European citizens."

He added: "The euro is irrevocable."

Asked whether the ECB should do more to ease the economy, Draghi replied: "We are very open. We do not have any taboos."

The ECB this month cut its benchmark interest rate to a record-low 0.75 per cent but gave little sign of further action soon to ease the crisis. It already made two rounds of three-year emergency loans to banks.

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