``Austrian worries raise a number of wider questions about the ongoing weakness of the European banking system and accompanying malaise in the eurozone economy. By promising to "do whatever it takes" to save the euro, Mario Draghi, president of the European Central Bank, deftly managed to break the link between Europe's banking and sovereign debt crises. Full marks for that. What he has not so far managed to do is bring about a revival in bank lending, an important pre-requisite to any durable recovery in the eurozone economy.''

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