Italy and France reform needed says ECB

(ANSA) - Rome, 20 APR - '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.