'Resolute action" is needed to
implement structural reforms in France, Italy and Portugal, the
three eurozone members where the European Commission has
detected excessive imbalances, the European Central Bank said in
its annual report Monday.
The implementation of recommendations has so far been
"disappointing", it said.
The ECB had made "extraordinary efforts" including
quantitative easing, President Mario Draghi said in the preface,
and a solid recovery was to be expected soon.
Inflation should rise back to a more desirable 2%, the
Draghi also said.
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