Investment in refugees will make Europe stronger: Draghi

Reuters News
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Posted: Nov 12, 2015 5:23 AM

BRUSSELS (Reuters) - Europe's economy will strengthen if countries invest in efforts to cope with the refugee crisis, the president of the European Central Bank told EU lawmakers on Thursday.

The current migration flows into Europe, the biggest since World War Two, will deeply change the social texture of the continent, but "if properly managed, if there are investments in this change, the Union and the euro area will emerge stronger in due time," Mario Draghi told the economic and monetary affairs committee of the European Parliament in Brussels.

Draghi said that public investments are required but it would be "premature to say by how much governments' deficits will have to expand in order to invest in this development."

He added that the ECB is currently studying this issue.

(Reporting by Francesco Guarascio; editing by Philip Blenkinsop)