Euro growth hope

EUROPE’S top central banker has hailed ‘stronger momentum in the euro area economy’ despite painfully high unemployment.

Mario Draghi, president of the European Central Bank, said output ‘ is projected to expand at a somewhat faster pace than previously expected’. His comments came after the eurozone economy grew by 0.6pc in the first quarter – the fastest rate since late 2015 and far stronger than the 0.2pc seen in the UK.

But unemployment in Britain is far lower than in the eurozone – at a 42-year low of 4.6pc, it is less than half the eurozone’s 9.3pc rate.