Draghi hails reform progress, cites Italy, Spain - update

ECB president says moves have altered inflation, unemployment

(ANSA) - Rome, May 22 - European Central Bank President Mario Draghi on Friday hailed the progress made in the eurozone on structural economic reforms, citing Italy and Spain as examples. "Several countries have made significant progress with structural reforms during the crisis and we can already see how this has altered the relationship between inflation and unemployment," Draghi said in Sintra, Portugal. "There is evidence that inflation has become increasingly responsive to cyclical conditions in countries that have reformed their product and labour markets, such as Spain and Italy".


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