EUR=X News & Analysis
Markets Spike on Report ECB Is Weighing New Steps
27 Jul 2012 EDT - CNBC.com
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"Within our mandate, the ECBis ready to do whatever it takes to preserve the euro. And believe me, it will be enough," he told an investment conference in London.
He said the central bank could fight unreasonably high government borrowing costs. This week has seen Spanish bond yields hit dangerously high levels.
"To the extent that the size of the sovereign premia (borrowing costs) hamper the functioning of the monetary policy transmission channels, they come within our mandate," Draghi said.
—Reuters contributed to this report.
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