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ECB chief Mario Draghi plays down eurozone warning

Posted by forex 150 days ago (http://www.bbc.co.uk)
img ForexSQ.com - The president of the European Central Bank (ECB), Mario Draghi, has said he has "no doubts" about the euro's ability to survive the current crisis.

Speaking to the European Parliament's Committee on Economic and Monetary Affairs, he was asked about a Financial Times interview in which he warned of the costs of a eurozone break-up.

But he said he believed in the currency's "permanence".

He also warned that 2012 would be a difficult year for banks.

Mr Draghi had told the FT that countries that left the eurozone would create "a big inflation" and would find themselves in "a much weaker position".

The newspaper compared his comments with the rhetoric of his predecessor, Jean-Claude Trichet, who had dismissed a break-up of the eurozone as "absurd".

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