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Mario Draghi says Italy can only blame itself for its third recession since 2008 . The European Central Bank president singled out his country's lack of structural reform on the eve of a key vote in the Italian parliament and after data showed the euro-area's third-biggest economy unexpectedly contracted last quarter. The ECB president's comments on Italy have become more frequent this year.The highest-ranked euro-area nation, Finland, was 12th.The Italian prime minister, the country's fourth since 2011, promised wide-ranging reforms of the economy and political system when he came to power in February through parliamentary maneuvering. Draghi, 66, indicated that the lack of reforms scares off investors, citing Italy's "significantly low" level of private investment.The ECB kept its benchmark interest rate at 0.15 percent Thursday and held the deposit rate at minus 0.1 percent, and Draghi reiterated that borrowing costs will stay low for an extended period.While the ECB refrained from announcing further measures, Draghi reiterated that policy makers are unanimous in their willingness to deploy unconventional measures, including quantitative easing, if needed.
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