Draghi to ask govts to chip in to counter Brexit fallout

FRANKFURT: European Central Bank (ECB) president Mario Draghi is likely to plead for governments to do more to boost the eurozone’s economy in the coming week as the fallout of Britain’s vote to leave the EU and weaker global growth threaten the bloc’s fragile recovery.

Governments in China, Japan and Britain have already started easing their fiscal stance or hinted at plans to do so as sub-par global growth and inflation show that central banks’ ultra-easy monetary policy has run up against its limit.