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Mario Draghi

ECB chief: 'won't hesitate' to expand stimulus if needed

European Central Bank head Mario Draghi said the chief monetary authority for the eurozone "will not hesitate" to expand its stimulus program at its next meeting if needed to support the economic recovery.

Draghi's speech at a banking forum in Frankfurt on Friday reinforced earlier statements taken by markets as a green light for the bank to take action at the Dec. 3 meeting of its governing council.

He said the ECB needed to assess whether "if left to its own forces, the economy will be able to achieve a self-sustaining trajectory."

"If not, then it will require more monetary stimulus."

Europe's recovery is important for the...