Draghi says euro remains vulnerable without banking union

Reuters
European Central Bank (ECB) President Mario Draghi addresses a news conference at the ECB headquarters in Frankfurt, Germany, October 20 , 2016. REUTERS/Kai Pfaffenbach

BERLIN (Reuters) - Record-low interest rates in the euro area are not the new normal, European Central Bank President Mario Draghi said on Tuesday, adding that the single currency area will remain vulnerable without a full monetary and banking union.

"New normal certainly not. We will get out of these measures when price stability has been reached in a sustainable way without the extraordinary monetary support of today," he said during a question and answer session after a lecture in Berlin.

"We should not lose sight of the fact that if the monetary union is not finished, if the banking union is not completed, if the capital markets union isn't achieved, these risks remain on our radar," he added.

(Reporting by Joseph Nasr and Paul Carrel)