- Eastern European expectations have also stabilized
- No crisis of the Euro, only of some member states
- Still sees eurozone growth shrinking in 2013, but a clear revival in 2014
- Monetary policy transmission didn’t function for ECB
- OMT meant to restart monetary transmission. OMT is monetary , not fiscal policy
- ECB’s non standard measures have had effects . Risk premiums have fallen
- On a good course, but still not there yet for long term equilibrium
- Eastern Europe should join single supervisory mechanism, even if not a euro member
Bloomberg reporting
