Draghi says ECB monetary policy fragmented

FRANKFURT (Reuters) - A fragmented financial market in Europe has led to the fragmentation of the European Central Bank's single monetary policy, ECB President Mario Draghi said on Tuesday. "As you will be aware, the disruptive effects of severe fragmentation in the single financial market have tangible consequences, such as diverging funding costs for banks," Draghi said in the text of a speech for delivery in Frankfurt. "This has resulted in the uneven transmission of our interest rate reductions to firms and households across the euro area. ...