Reuters: US Dollar Report: Draghi urges govts to take "corageous leap" to save euro

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Draghi urges govts to take "corageous leap" to save euro May 24th 2012, 13:31 ROME | Thu May 24, 2012 9:31am EDT ROME May 24 (Reuters) - European Central Bank President Mario Draghi on Thursday called on governments to take a "corageous leap" of political imagination to safeguard the future of the euro zone. In a speech in Rome, Draghi said it would take time for the full benefits of the ECB's cheap three year loans to banks to be seen, and now the onus was on banks, and especially govenments, to take their own decisive action. "We are living a crucial moment in the history of the EU," Draghi said in the Italian version of his speech. "We have reached a point in which the process of European integration needs a courageous leap of political imagination in order to survive." Draghi rejected criticism of the ECB's cheap three-year loans (LTROs) and said there was no sign of inflation risks in the medium term.

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