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Eurozone remains weak, says Mario Draghi
Spain and Italy were plunged back into financial turmoil on Thursday after Mario Draghi, head of the European Central Bank, flagged up the "renewed weakness in economic growth" of the last three months. Draghi said there was "heightened uncertainty" in the eurozone and added that the risks continued to be on the downside, with a potential spillover from financial markets to the real economy. The yield on 10-year Spanish bonds leaped 0.37 percentage points to 6.78%, the highest level since 29 June and dangerously close to the 7% interest rate that economists see as unsustainable. Italy's borrowing costs reversed ... (full story)