- 2015 should be more positive for eurozone
- Fiscal position in eurozone should be neutral or slightly expansionary in 2015
Hope. Pray.
Update, more comments:
- Traditionally ECB would look through oil price moves, today it’s not so obvious because inflation expectations are fragile
- Difficult to see how supportive the drop in oil prices will be for growth
- If eurozone went into deflation, no doubt all tools would be used, only question is timing
Dovish take.
