Leading German economic institutes raise forecast for 2015 growth to 2.1% vs 1.2% prev

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