Mario Draghi ready to prop up eurozone with more stimulus

ECB president says growth prospects in the single currency area have suffered and could worsen if China's slowdown bites

The euro fell sharply and stock markets rose after the European Central Bank boss said he was ready to provide more stimulus to prevent the eurozone's faltering economy being hit by worries over China.

The ECB's president, Mario Draghi, said the eurozone's growth prospects had suffered in recent months and could worsen if the slowdown in China and turmoil in emerging markets took a turn for the worse.