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 | Armenia to participate in key EU meeting for the first time ever National Assembly speaker Alen Simonyan has said that Armenia will for the first time participate in the Conference. U.S. reacts to Russia’s criticism of upcoming Armenia-EU-U.S. meeting Matthew Miller has weighed in on Russia’s criticism of an upcoming Armenia-EU-U.S. meeting. Lavrov sees ‘collapse’ of Russia’s ties with Armenia Russian Foreign Minister Sergey Lavrov has underscored heightened tensions between Russia and Armenia. Russia clarifying reports on Baku’s alleged arms supply to Ukraine Russia says is carefully working to verify reports about alleged arms supplies from Azerbaijan to Ukraine |