ECB’s Draghi Says External Demand Weakness Does Not Mean ‘Serious Slump’ Ahead

European Central Bank President Mario Draghi said on Wednesday that the bank's monetary policy stance remained accommodative in the face of weaker growth outlook for the euro area and that the weakness in external demand is unlikely to be severe. Speaking at the ECB Watchers conference in Frankfurt, Draghi said, "We are now seeing a more persistent deterioration of external demand."