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Draghi slightly more optimistic about eurozone economy

Drop in bank lending appears to have reversed, economies of most countries growing, he says

Frankfurt

THE president of the European Central Bank has given a slightly more optimistic assessment of the eurozone's economy, saying that a decline in bank lending appears to have reversed and pointing out that the economies in most countries in the region are growing.

"We have a certain amount of confidence that the credit cycle is now turning for the better," Mario Draghi told members of the European Parliament in Brussels on Monday.

A lack of bank credit for businesses has been a fundamental problem in the eurozone. That is particularly true in countries like Italy, where companies are especially dependent on banks, as opposed to capital markets, to finance expansion and hiring.

Mr Draghi acknowledged...

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