ECB Under Pressure To Lower Growth-sapping Euro
The European Central Bank is coming under increasing pressure to do more to stem the strength of the euro, which is hurting exporters and keeping a lid on the region’s recovery from recession. ECB President Mario Draghi is likely to face questions on what can be done to reduce the value of the euro when he faces lawmakers at the European Parliament on Monday. At around $1.36, the euro has come down from its 2014 high of just below the $1.40 mark in May. Even so, the currency remains well above its historic average. That’s a problem for the region’s exporters as they try to drum up business in the growing global economy.
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