Global Politics

Dire Warnings About The Euro

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Mario Draghi (Al Jazeera Video)

President of the European Central Bank (ECB), Mario Draghi, has told the European Parliament that "downside risks" to the eurozone economic outlook have increased.

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He also said that temporary measures by the ECB, such as buying up government debt, would be limited.

Meanwhile, the Bank of England governor said banks should brace themselves to withstand the "extraordinarily serious and threatening" economic situation. Sir Mervyn King said the Bank of England itself was making "contingency plans" in case of a eurozone break-up.

Anchor Lisa Mullins speaks with Jacob Kirkegaard, a fellow at the The Peterson Institute for International Economics.