ECB head says eurozone economy recoveringMarch 11, 2015 - 13:10 AMT PanARMENIAN.Net - European Central Bank head Mario Draghi says the 19-country eurozone economy is recovering and that recent stimulus measures will get inflation back to target, the Associated Press reports. Draghi told a conference Wednesday the recovery will broaden and strengthen. In the fourth quarter of 2014, the eurozone grew 0.3 percent from the previous quarter. Draghi said the bank was "deploying monetary policy in a way that will stabilize inflation in line with our objective." In February, consumer prices were 0.3 percent lower than the year before, well off the bank's goal of inflation just under two percent. Draghi said the bank's measures, including a 1.1-trillion euro ($1.2 trillion) program of bond purchases that started Monday, "have significantly decreased the likelihood" that low inflation would become a chronic downward price spiral hurting growth. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Concept to complete Yerevan Cascade discussed at city hall A conceptual proposal to complete the Cascade complex in downtown Yerevan has been presented by Jean-Michel Wilmotte. Pashinyan visits flood-hit region Armenian Prime Minister Nikol Pashinyan on Saturday, June 8 visited the disaster area in the Lori province. €3.5 mln EU grant to support justice reforms in Armenia The European Union has paid €3.5 mln grant to Armenia within a €11mln program on Support to Justice Reforms. Yerevan reacts to Baku’s proposal to see Minsk Group abolition Alen Simonyan has declared that Armenia is taking steps aimed at concluding a peace treaty with Azerbaijan. |