IMF says Europe's banking sector still fragile

PARIS: Europe's banks are still fragile and the European Union has a way to go to make them stable, the International Monetary Fund said Friday in its first assessment of the continent's financial sector.

Draghi: Reforms must continue despite social cost

FRANKFURT, Germany (AP) — European Central Bank President Mario Draghi has acknowledged that austerity measures and economic reforms can have heavy social costs — but argues they are the way to a fairer society because they can reduce injustices such as widespread youth unemployment.