- recovery struggling to find momentum in most of EU
EU Commission’s new chief economic and finanical overlord with some more cheery news and getting paid vast sums to state the berleedin’ obvious after the latest gloomy forecasts they produced earlier
Downside risks to the growth outlook still dominate, in particular related to geopolitical tensions, possible market reactions to the normalization of US monetary policy and also risks related to the pace of reform implementation in Europe
- fiscal consolidation is a necessity
- risks to inflation outlook are “balanced”
- will travel to Greece before Dec 8
Moscovici – yep, the chances of recovery are that slim
