June 29, 2018 / 1:57 PM / in a year

Trade spat escalation would hurt euro zone economy, ECB's Draghi warns

FILE PHOTO: President of the European Central Bank Mario Draghi speaks during the news conference following the meeting of the Governing Council of the European Central Bank in Riga, Latvia June 14, 2018. REUTERS/Ints Kalnins

BRUSSELS (Reuters) - An escalation in trade tensions with the United States would hurt the euro zone’s economy more than currently anticipated, the European Central Bank’s President Mario Draghi said on Friday according to a source close to the matter.

Draghi’s warning to European Union leaders gathering in Brussels largely echo what he and some of the world’s other top central bankers said at an ECB conference last week.

Reporting By Jan Strupczewski; Writing by Francesco Canepa in Frankfurt

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