ECB’s Tumpel-Gugerell: Euro zone growth is doing much better than expected a few months ago, data show more optimism

I like old Gertrude. She always seems so upbeat.

• On Fed QE2 – Each central bank has to take measures it sees as adequate (and she’s fair-minded too)
• ECBis in a period where we don’t think we need additional measures
• Banks are much less dependent on ECB for funding
• Confident we are in a phase where recovery makes it easier for banks to continue lending