- Recovery to be weak in euro zone, stronger in U.S.
- China is the growth engine of the World economy, even stronger than initially expected
- Some euro zone countries have severe structural problems
- Membership in the euro zone cannot replace failed structural policy
- No risk of euro zone break up because of Greece
- Leaving euro would be unrealisitic, expensive for Greece
- No euro zone bailout principle based on treaties must be taken seriously
- Does not see stagnation, deflation in euro zone
- Possibility of lost decade like in Japan is a worry to many economists
- Exit strategies need to be careful, step by step, in monetary/fiscal policy
- Risk of too early exit from accommodative measures
EUR/USD sits at 1.4710 exactly where it was when I sat down around 5 hours ago.
