- albeit still with very weak growth
- demand side is of relevance to future growth
- additional demand can not come from ever-increasing current account surpluses in the EU
- future growth will depend on structural reforms of labour and products markets
In the present situation of still low capacity utilisation in many fields of the economy, low investment and especially alarming rates on unemployment in many countries, it seems to be obvious that the demand-side of the economy is also of relevance – and that the additional demand can not be expected to come from ever-increasing current account surpluses of the EU
Speaking at a central banking conference in Budapest, out on rtrs
EURUSD still around 1.3546