Everyone it seems getting excited about some recovery but caution remains

German economy likely to have expanded by +0.6% in Q1 but upswing to lose some momentum for rest of year

  • 2015 CPI forecast of +0.5% vs +1.4% prev
  • pvt consumption to rise 2.5% in 2015, +1.6% 2016
  • net trade will contribute +0.3% to 2015 GDP
  • Greece's financial problems are "significant risk" for European economy
  • if countries take on too much debt the ECB will find its bond-buying programme or raise main rates if inflation rising
  • Germany should use public budget surpluses of over €20bln to reform the tax system

The beautful minds include German think-tanks IWH, Kiel Economics,IFO, DIW and RWI as well as Zurich's KOF, Vienna's WIFO and IHS

EURUSD treading water around 1.0640 EURGBP 0.7172 EURJPY 126.90