ECB President Mario Draghi is likely to face questions on what can be done to reduce the value of the euro when he faces lawmakers at the European Parliament later, amid further signs that the recovery in the 18-country eurozone is faltering.

The European Central Bank is coming under increasing pressure to do more to stem the strength of the euro currency, which is hurting exporters and keeping a lid on the region's recovery from recession.

At around $1.36, the euro is down from its 2014 high of just below the $1.40 mark in May. Even so, the currency remains well above its historic average.

Figures Monday suggest that the recovery in the eurozone is flagging. Official figures show industrial production down a monthly rate 1.1 percent in May.