Lagarde described Draghi's report as "formidable" with a "severe but just" diagnosis, asserting that his proposed structural reforms could significantly strengthen Europe's economy.
Draghi's report indicated that EU economic growth has lagged significantly behind the US, urging an investment boost of 5 percentage points of GDP to enhance competitiveness.
The ECB has cut its key deposit rate to 3.5 percent to offer relief to eurozone households, amidst ongoing concerns of inflation volatility and potential future increases.
While recent inflation figures align with expectations, the ECB cautioned about potential rises later this year, due to past energy price drops affecting annual rates.
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