The European Union must show that it benefits people's lives, European Central Bank (ECB) President Mario Draghi said on Monday, as the bloc remains in limbo following the U.K.'s Brexit vote.
"Europeans are calling on our institutions to bring tangible benefits to their everyday lives. We need to respond to this appeal with action," Draghi said in Brussels at a European Parliament hearing.
"This is why I am here today: Not only to demonstrate once again the importance that the ECB places on being accountable to EU citizens, but also to discuss with you how the ECB is acting to fulfil the mandate that was democratically conferred upon us," he later added.
The ECB sets monetary policy in the 19 European Union countries that use the euro currency and are referred to as the euro zone.