ECB 'confident' of Eurozone return to growth, Draghi says

European Central Bank (ECB) President Mario Draghi on Monday said the monetary authority was confident that the Eurozone growth will improve.

Writing in the bank’s 2014 annual report, Draghi said the common currency block would overcome last year’s struggle, adding he also expected inflation to return to its medium-term target "without undue delay".

The president said he could "envisage with confidence that the weak and uneven recovery experienced in 2014 will turn into a more robust, sustainable upturn – and that inflation will return without undue delay to the ECB's objective of below, but close to, 2% over the medium term".

The report added that while a number of Eurozone banks had a “sizeable” exposure to Russia, the bloc was unlikely to be put under economic threat by the geopolitical tension in the area.