ECB hopeful of 'gradual recovery' for eurozone in 2013

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Weak economic activity has continued in the eurozone in recent months but a "gradual recovery" is predicted for the second half of 2013, ECB president Mario Draghi has said.

Any improvement would however be subject to "downside risk", he warned.

His comments came as the European Central Bank (ECB) announced that eurozone interest rates would be kept on hold at 0.75% for the ninth month in a row.

Speaking in Brussels, Mr Draghi also urged governments to "intensify the implementation of structural reforms at national level and strengthen eurozone area governance."

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