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Mario Draghi: "“Urgent need to agree on short term commitments for structural reforms"

FXStreet (London) - European Central Bank president Mario Draghi is currently addressing the European Parliament's Economic and Monetary Affairs Committee:

- “Urgent need to agree on short term commitments for structural reforms, a consequent application of Stability and Growth Pact on fiscal stance for euro area, on strategy for investment, and to launch work on ensuring smooth functioning of EMU”

- “Countries that are now growing faster are the countries where structural reforms have been undertaken

- “Countries have reformed, even when interest rates were already very low

Mario Draghi: "Challenge is to make collateral framework simpler and more transparent"

European Central Bank president Mario Draghi is currently addressing the European Parliament's Economic and Monetary Affairs Committee
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GBP/USD holds near daily lows

GBP/USD bottomed during the European session at 1.5617, less than 30 pips above Friday’s lows after falling more than a hundred pips from the highs.
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