Draghi warns of economic'downside risks'

(ANSA) - Rome, November 27 - Mario Draghi, head of the European Central Bank, warned Thursday that economic growth prospects in the eurozone "are surrounded by several downside risks".
    Draghi, whose central bank has introduced a series of policy measures to try to boost the region's sluggish economy, was speaking to the Finnish parliament in Helsinki.
    He also called for political leaders across the eurozone to do more to boost economic growth.
    "Monetary policy cannot do all the heavy lifting," Draghi said.
    Still, he said more policy action from the central bank is possible as it works to raise inflation closer to the ECB's target of 2%.
    Markets have been watching to see if the central bank will begin to buy large amounts of sovereign bonds, a process known as quantitative easing.
    With inflation in many eurozone countries barely above zero, fears are growing of lingering stagnation across Europe.
    Draghi also said that the ECB was seeing "tangible signs" that its package of measures to increase the availability of credit was paying off but it was ready to do more.
    He added that countries in the eurozone need to begin to "share sovereignty" over their national economic policies and urged "a leap forward" in developing common institutions and common rules on economic issues.