ECB Chief: Euro Not in Danger

BERLIN -- The head of the European Central Bank says the euro is "absolutely not" in danger as the continent's financial crisis simmers.

Mario Draghi said in an interview with French daily Le Monde posted on the bank's Web site Saturday that predictions of a eurozone "explosion" underestimate "the political capital that our leaders have invested in this union, as well as the support of European citizens."

He added: "The euro is irrevocable."

Asked whether the ECB should do more to ease the economy, Draghi replied: "We are very open. We do not have any taboos."

The ECB this month cut its benchmark interest rate to a record-low 0.75% but gave little sign of further action soon to ease the crisis. It already made two rounds of three-year emergency loans to banks.

> > Bull or Bear? Vote in Our Poll

Copyright 2011 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

More from Rates and Bonds

What's Driving the 10-Year Yield to Historic Levels This Week?

What's Driving the 10-Year Yield to Historic Levels This Week?

U.S. Economy Added 103,000 Jobs in March, Missing Projections

U.S. Economy Added 103,000 Jobs in March, Missing Projections

U.S. Economy Seen Adding Jobs at 'Goldilocks' Pace For Stock Investors

U.S. Economy Seen Adding Jobs at 'Goldilocks' Pace For Stock Investors

Borrowing Costs Surge to Nearly 9-Year High Amid Changing Money Markets

Borrowing Costs Surge to Nearly 9-Year High Amid Changing Money Markets

3 Big Takeaways From Fed Chairman Jerome Powell's First FOMC Meeting

3 Big Takeaways From Fed Chairman Jerome Powell's First FOMC Meeting