Former Bundesbanker and now ECB chief economist Stark is on the wires with some very downbeat comments on Europe relative to his compatriot M. Trichet.
- National finances are still in a precarious state.
- Euro zone growth to moderate in the second half of 2010
- Economic growth risks beyond 2010
- Dichotomy between single monetary policy and decentralized fiscal policy has to be addressed
- Not all sectors of European banking system have sen improvement in trust
- Greek fiscal program realistic; Ireland will keep control of fiscal situation
