ECB's Draghi cautions against undue optimism

FRANKFURT Thu Jan 23, 2014 1:17am EST

Mario Draghi, President of the European Central Bank (ECB) answers reporter's questions during his monthly news conference at the ECB headquarters in Frankfurt, December 5, 2013. REUTERS/Kai Pfaffenbach

Mario Draghi, President of the European Central Bank (ECB) answers reporter's questions during his monthly news conference at the ECB headquarters in Frankfurt, December 5, 2013.

Credit: Reuters/Kai Pfaffenbach

FRANKFURT (Reuters) - European Central Bank President Mario Draghi cautioned Wednesday against undue optimism for the euro zone economy, saying there still were significant risks of setbacks to the recovery.

Draghi said in an interview with the Swiss daily Neue Zuercher Zeitung that he is not too concerned about either inflation or deflation.

"We do see encouraging signals and the first signs of an economic recovery in the euro zone, but it is still weak and uneven," Draghi said.

"All in all, the risk of setbacks is large. I would be very careful not to give an overly optimistic outlook."

(Reporting by Sakari Suoninen; Editing by Kim Coghill)

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