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- ECB DRAGHI: Notable progress achieved in EMU governance
ECB DRAGHI: Notable progress achieved in EMU governance
Reforms, news govts had little effect on mkts so far
Confident new surveillance will restore confidence
Far reaching Treaty changes should not be discarded
Need long-term vision to restore short-term confidence
ECB monetary policy is guided by price stability
Financial markets have intensified again
Downside risks to economic outlook have increased
Dysfuntional bond markets hamper monetary policy
Impaired monpol transmission mechanism hits credit
Non-standard measures can only be limited
Govts must restore their credibility
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