Eurozone leaders urged to focus on growth

Eurozone leaders have urged governments in Europe to focus on growth despite fears about the negative impact of austerity measures now being implemented.



President of the European Central Bank Mario Draghi said the balanced budget agreements that were reached across Europe last year should now be accompanied by a growth strategy.



German Chancellor Angela Merkel and French presidential candidate Francois Hollande have expressed support for the proposal, but have not said what they would do to boost growth.



Adding to the tensions in Europe is the collapse of the Netherlands government because of disagreements over identifying billions of euros in austerity cuts.



However, speaking to the European Parliament yesterday, Draghi argued that austerity measures across Europe have curtailed growth without doing much to reduce fears that governments may be unable to repay their debts.