Draghi: Fiscal Policy Alone Can't Revive The Eurozone

MarketWatch Pulse

European Central Bank President Mario Draghi on Wednesday again called on eurozone governments to implement necessary structural reforms to revive growth in the struggling currency union. Speaking at the School of Economics and Business Studies in Rome, the ECB boss reiterated earlier calls for national governments to reform the labor market in efforts to bring down the eurozone unemployment rate that is stuck close to crisis-highs. "The current unacceptable level of unemployment -- 23% of young people aged between 15 and 24 years do not have a job -- conflicts with any notion of fairness, is the greatest waste of resources, inflicts damage on human capital, affects the potential of economies, pushing down growth for years to come," Draghi said in the speech.

Copyright © 2014 MarketWatch, Inc.

Continue Reading Below