European Central Bank President Mario Draghi's new campaign to save the euro has had little or no immediate impact on the region's shrinking economy, figures published Thursday showed.
The weakening of confidence in the currency area's core suggests that those economies not yet in contraction will struggle to avoid shrinking in coming months, in turn limiting their ability to help southern European nations already in recession.
Confidence among euro-zone consumers and businesses fell for a sixth straight month in September to its lowest level in nearly three years, while the European Central Bank's monthly report on credit developments said lending to the private sector stayed weak and interbank markets remained largely blocked in August, showing no immediate response either to July's cut in official interest rates, or to Mr. Draghi's initiative.
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