Draghi sounds euro zone economic alarm

Mario Draghi intensified his warning on the challenges facing the euro area economy, signalling on Thursday thatthe European Central Bank could be even more cautious about any withdrawal of crisis-era stimulus this year.

After holding off in December from fully downgrading his assessment, the ECB president finally caved in by saying the risks to growth “have moved to the downside”. That’s a significant change from six weeks ago, when he described the risks ...