Draghi says ECB 'determined to protect the euro'-update

(ANSA) - Rome, November 20 - European Central Bank President Mario Draghi said Thursday that the ECB "remains determined to protect the euro".
    In comments at the inauguration of the ECB's new role as the direct supervisor of major eurozone banks, Draghi added that "the fragility of the banking sector is an important risk that must be addressed directly".
    He added European authorities must continue to prepare for the future.
    "We have to look ahead and prepare for future developments towards a real economic and monetary union". The new single supervisory mechanism (SSM) based in Frankfurt was born of the global economic crisis, which showed dramatic weaknesses in the financial services sector.
    Some European financial markets fell after Draghi's comments, with Milan's FTSE Mib dropping by 0.91% near the close of the trading day.