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The Boston Globe


EU bank chief lauds progress on fiscal crisis

FRANKFURT — The president of the European Central Bank expressed satisfaction Thursday with efforts to resolve the eurozone crisis, saying that members of the currency area had made ‘‘amazing’’ progress toward reducing government spending.

While pessimistic about the immediate outlook for economic growth on the continent, Mario Draghi, the central bank president, pointed to indicators of reduced tension in financial markets, including a return of US money market funds to the region and successful bond sales by Portugal and Ireland.

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