One in 10 workers in the eurozone will remain unemployed even after the effects of the European Central Bank’s bond-buying programme have rippled through the economy, according to ECB projections, highlighting deep scars left by the bloc’s financial and debt crises.
Mario Draghi, ECB president, told the EU parliament yesterday that “growth is gaining momentum” in the eurozone.
“The easing of lending conditions is progressing hand in hand with a resurgent demand for credit to finance business investment,” Mr Draghi said. “In the longer-term perspective, this will increase potential output.”
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