Draghi

Eurozone officials were to meet in Milan on Friday for an unofficial summit where the progress of Greece's economic reform drive is expected to top the agenda following negotiations between Greek government officials and the troika in Paris last week.

Spanish government bonds rose, with 10-year yields approaching a record low, amid speculation European Central Bank President Mario Draghi will reiterate the need for accommodative monetary policy.

By Jack Ewing

FRANKFURT, Germany — The president of the European Central Bank, Mario Draghi, said Wednesday that countries in the eurozone should be compelled to take steps to improve the performance of their economies in the same way that they are already required to observe rules on government spending.

SYRIZA leader Alexis Tsipras is due to meet European Central Bank president Mario Draghi in Frankfurt on Tuesday afternoon.

The Eurozone GDP is expected to grow 1.2% in 2014, European Central Bank President Mario Draghi announced Thursday.

At his monthly press conference in Frankfurt, the ECB's chief asserted that economic recovery is under way, even though it is not at the desired pace, Businessweek has reported.