Nov 17, 2014 10:21 AM

ECB's Draghi says Greece reaping reform benefits

The Associated Press

BRUSSELS (AP) European Central Bank President Mario Draghi says Greece is starting to reap the rewards from its wide-ranging economic reforms.

Addressing lawmakers of the European Parliament on Monday, Draghi highlighted the fact that Greece was the fastest-growing economy in the eurozone in the third quarter. It grew by a quarterly rate of 0.7 percent ahead of the 0.2 percent tick recorded by the 18-country eurozone.

He said the "benefits are accruing." Over the past few years, Greece has enacted tough budget-control measures and pursued wide-ranging economic reforms in return for bailout money that prevented it going bankrupt.

He also said the ECB stands ready to do more, including possibly buying government bonds, if inflation doesn't head higher from current "very low" levels.


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