President of the European Central Bank, ECB, Mario Draghi speaks during a news conference at their headquarters in Frankfurt, central Germany, Thursday, March 7, 2013. The European Central Bank has left its benchmark interest rate unchanged at a record low of 0.75 percent, holding off on further stimulus even though the euro area remains stuck in recession. The decision came Thursday at a meeting of the bank's 23-member governing council at its headquarters in Frankfurt. (AP Photo/dpa, Arne Dedert)
AP Business Writer
FRANKFURT, Germany (AP) -- European Central Bank President Mario Draghi is urging indebted governments to move beyond spending cuts and tax hikes and introduce reforms that would boost growth and reduce the "tragedy" of unemployment.
Speaking after the bank's monthly policy-setting meeting, Draghi praised the progress made by the 17 European Union countries that use the euro in controlling their deficits in an effort to dig out of the region's 3
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