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Mario Draghi

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20120116-203520-pic-260549526.jpg

European Central Bank President Mario Draghi, reacting to S&P's downgrade Monday of the European Financial Stability Facility to AA+, says banks and other financial firms should stop basing their risk assessment solely on the opinions of rating agencies. (Associated Press)

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European Central Bank head Jean-Claude Trichet (right) listens to Mario Draghi, next to take the helm of the bank, during a conference on the European debt crisis on Monday in Paris. Mr. Draghi called for a "quantum" leap toward economic integration. (Associated Press)