DAVOS, Switzerland, Jan. 25 (Xinhua) -- European Central Bank (ECB) President Mario Draghi on Friday said there had been substantial progress and 2013 was mostly a year of implementation.
Speaking at the World Economic Forum, Draghi said last year marked the "relaunch of the euro" and was hence a year to be remembered. He added that restarting and reengineering euro integration gained momentum for the first time in many years.
There has been extraordinary progress at the national government level in pursuing fiscal consolidation and the start in structural reforms, he said, citing increased competitiveness, surpluses in current account and improved fiscal positions.
However, he pointed out that Europe has not seen an equal momentum on the real side of the real economy. "We will have to do much more," he said.
Draghi defined a strategic objective for eurozone countries in 2013. "For the euro area, the most important strategic objective today is to overcome the fragmentation that still remains," he said.
"To reach this objective, we have to go back to a fully integrated financial and capital market," he added.
The eurozone can have a positive development if national governments persevere in their actions both in fiscal consolidation and on the front of structural reforms, Draghi stated.
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