RBS director, who was forced to apologize for a huge computer connection, gets a promotion

Susan Allen, 51, was managing director of RBS's UK retail bank when customer accounts stagnated

RBS director, who was forced to apologize for a huge computer connection, gets a promotion

City & Finance Reporter for the Daily Mail

Susan Allen, 51, was managing director of RBS's UK retail bank when customer accounts stagnated

Susan Allen, 51, was managing director of RBS's UK retail bank when customer accounts stagnated

Not all countries that have adopted the euro have benefited from the single currency, the head of the European Central Bank admitted.

Mario Draghi's remarks came when he gave a gloomy forecast for the economy of the eurozone and confirmed the end of a £ 2.3 trillion stimulus.

The euro fell against other currencies because it said growth was threatened by trade wars and protectionism.

Draghi said: & # 39; I think the euro has been a success. Has everyone participated in this success? We must ask why not. I would like to have frank introspection that could inspire future actions for the completion of monetary union. & # 39;

Since the single currency turns 20 years old, he also called for more efforts to improve its operation.

According to critics, the euro has made economic problems for countries like Greece worse, leading to massive unemployment and leading to a lost generation of young people who do not find work.

In a financial crisis the currency of a country would normally collapse, making its manufacturers more competitive and the economy can stabilize.

But in the eurozone the currency can not devalue in poor countries, because stronger economies like Germany keep it higher.

Draghi said separately that the huge ECB buying program, launched in 2015 to ward off the threat of deflation, will stop this month.

It injects £ 27 billion a month into the euro zone and has pumped £ 2.3 trillion.

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