ECB's Draghi: Eurozone leaders need to hasten transition to economic and monetary union - financial press
- Says: "The current situation in the euro area demonstrates that this delay could be dangerous... Strong divergences remain in terms of unemployment, growth, and productivity," Draghi said, adding that rather than fearing losing power and policy-making flexibility in accepting common eurozone strictures, national governments must realise "new sovereignty-sharing (which)... can appear to be a threat is actually an opportunity... The next step towards authentic economic and monetary union will consist of becoming aware of these constraints and taking control of them."