- Particularly high uncertainty
- Downside risks intensifying
- Financing conditions have tightened
- Very thorough analysis of of incoming data is warranted
- ECB will provide banks liquidity with full allotment
- Growth very moderate in H2 of 2011
- Stock volatility, sovereign debt markets a drag
- Risk to the euro area economy are on the downside
- Staff cut economic growth estimates for 2011 and 2012
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Trichet: Risks to economic growth are on the downside
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