FRANKFURT, Germany (AP) -- European Central Bank president Mario Draghi says the bank is working with other European institutions to find a way to get more credit to small and medium size companies -- and spur a lagging economy.
Draghi said the consultations would focus on creating a market for securities backed by loans to companies.
Discussions with the European Commission and the European Investment Bank would focus on finding a way to package and guarantee such loans as a way to free up more lending, Draghi added.
The ECB president spoke Thursday after the bank cut its benchmark interest rate a quarter point to 0.50 percent to stimulate the recession-bound eurozone.
Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.