ECB's Draghi flags risks to economy

FRANKFURT (Reuters) - The European Central Bank will contribute its share to helping the economic recovery, its president said on Monday, warning, however, of threats to the economy including from emerging markets.

"Growth prospects are slowly improving in advanced economies, but the outlook in emerging markets is more subdued. Overall, growth is low by historical standards," Mario Draghi told lawmakers in the European Parliament.

"The ECB is willing to contribute its share to ensuring that the recovery remains firmly on track," he said, before listing risks that could undermine the economy.

He said these risks were the global economic environment, the financial system's situation, economic policies of euro zone member states and political uncertainty surrounding the "European project".

(Reporting By John O'Donnell; editing by Maria Sheahan)