Draghi hammers euro

THE euro slipped against other currencies yesterday as European Central Bank chief Mario Draghi refused to end an emergency lifesupport programme.

Draghi said the bank’s money-printing would fall from £53bn to £26.5bn a month. But he said that socalled quantitative easing – to keep the economy moving in the depths of the financial crisis – would continue until September.

He has come under pressure in Germany to act faster as savers’ interest rates have been wrecked.

But he wants to stop a sudden surge in the euro causing stocks to plunge.

The pound rose 0.4pc against the euro to €1.13 while the euro fell 1.2pc against the dollar to $1.17.