The European Central Bank has warned that the eurozone debt crisis could engulf further member states, with the risks reverberating around the world
“Contagion of euro area sovereign debt strains remains the most pressing risk for financial stability in the euro area, the European Union and even across the globe,” said the ECB’s eurozone financial stability review, released on Monday.
Separately, Mario Draghi, ECB president, told the European parliament draft changes to treaties strengthening fiscal rules were a “first step” but could be “made much better”.
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