Press Release: Economic recovery is slowing, but banks’ confidence in SMEs is up, says Draghi

On the 22 September 2014, European Central Bank President Mario Draghi told the Economic and Monetary Affairs Committee of the European Parliament that economic recovery was losing momentum, citing slowing growth in the second quarter and less than encouraging economic indicators in the summer.

"The weak credit curb, high unemployment, political and geopolitical tensions could work against the necessary confidence the ECB is trying to build", he explained.

Mr Draghi also stated that the ECB stood ready to use additional unconventional tools if needed to spur inflation and growth in the Eurozone.

The Committee also met with the outgoing commissioner for Internal Market and Services Michel Barnier and defended that the European Union should shift more of the cost of the rescue fund for banks onto the region's biggest lenders.

• Prif ffynhonnell

ESO: Background information: Monetary policy decisions, September 2014 http://www.europeansources.info/record/monetary-policy-decisions-september-2014/

EurActiv, 22.09.14: ECB will use 'unconventional tools' to spur eurozone growth http://www.euractiv.com/sections/euro-finance/ecb-will-use-unconventional-tools-spur-eurozone-growth-308627

EUObserver, 22.09.14: ECB ready to use more 'unconventional tools' to spur economy http://euobserver.com/economic/125719

EurActiv, 23.09.14: MEPs insist banks should finance their own rescue fund http://www.euractiv.com/sections/euro-finance/meps-insist-banks-should-finance-their-own-rescue-fund-308636

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