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Risk of ECB failing its mandate higher than 6 months ago – Draghi


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FXStreet (Mumbai) – In an interview given to the German financial daily Handelsblatt, the European Central Bank (ECB) President Mario Draghi cited a high risk of the ECB failing to fulfill its mandate .

Mr. Draghi said the mandate of preserving price stability appears difficult to achieve now than half a year ago, and reiterated its readiness to act earlier this year should it become necessary.


The ECB President’s statement may explain the sharp fall in the EUR/USD pair towards to July 2012 low of 1.2042 levels.