• Says he expects “modest growth” in euro zone in second half
  • ECB remains fully determined to counter risks to medium-term inflation outlook
  • ECB ready to use additional unconventional instruments within mandate, alter size or composition of unconventional interventions if necessary
  • Sys “unacceptably high unemployment” and weak credit growth likely to curb euro zone recovery
  • Heightened geopolitical tensions could dampen business and consumer confidence
  • Sanctions on and by Russia have had limited spillover effects on euro zone economy so far
  • Risk of insufficient structural reforms could weigh on business environment
  • Says he does not expect Japanese-style deflation in euro zone, situation is different

Crossing the wires – from a report in Lithuaninan newspaper ( interview published on Thursday by the Lithuanian business daily Verslo Zinios)

The same as were reported yesterday

EUR is dribbling lower, under 1.2770 as I type