The European Central Bank (ECB) President Mario Draghi was testifying to the European Union's Parliament on Monday. He said that Eurozone's economic growth has slowed over the summer months.

Draghi pointed out that the ECB could purchase government bonds.

The ECB president also said that the central bank needs "to remain alert to possible downside risks to our outlook for inflation".

Draghi noted that governments need to implement structural reforms. He said that Greece is starting to benefit from its economic reforms. The economy in Greece was the fastest-growing economy in the Eurozone in the third quarter. It rose by a quarterly rate of 0.7%.