Mario Draghi insists the European Central Bank (ECB) can do little about the root causes of the crisis in Europe and has issued a stark warning that the "problems in the euro area economic landscape still loom large".

Today the ECB president told an audience in Amsterdam that as a result of ECB policy, tail risks have been "largely removed" from the pricing of eurozone assets and "financial fragmentation has been receding". Defending the size of the ECB's balance sheet, which has nearly trebled