• Recent developments may well have a dampening impact on growth in the Euro Area.
  • The Euro Area economy has proved fairly resilient to date, supported by a strong labour market.
  • The use of the US dollar in international funding, payment and trade transactions, or as a reserve currency, will not be challenged in the short term.
  • But the role of the Euro can gradually expand, especially if we deliver on “more Europe”.
  • The ECB concern has shifted from inflation to slow growth.
ECB's de Guindos
Source: Forex Live