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ShareSeptember 23, 2019 "Since my last hearing before this commission, the euro zone's momentum has slowed significantly, more than we anticipated.
The GDP is now forecast at 1.1% in 2019, minus 0.6 points from the December projections, and 1.2% in 2020, minus 0.5 points from December ": ECB President Mario Draghi said in the his last hearing at the EU Parliament.
Weak international trade, uncertainty linked to protectionism are the main factors, according to Draghi.
"Who has space to spend, be careful with debt"
"We need a coherent economic strategy in the euro area, which completes the effectiveness of monetary policy", so the ECB was unanimous in asking for "a greater contribution to fiscal policies". In view of the slowdown and downside risks, "governments with space in their budgets, which face a slowdown, should act quickly, and at the same time governments with high debts should pursue prudent policies and respect the objectives" EU: it has said ECB President Mario Draghi.