ECB’s Scramko says:

  • GDP data confirm euro zone stabilisation, but bigger improvement only in course of 2010
  • Technically out of recession, but that is only one way of looking
  • Looking at unemployment, recession not over yet

ECB’s Gonzalez-Paramo says:

  • Liquidity measures will not be withdrawn all at the same time
  • Q4 growth to be positive, 2010 to be below potential
  • Interest rates will be raised when inflation makes it necessary
  • Doesn’t rule out rate rise even when some countries are still in recession