The European Central Bank’s number crunchers are a busy bunch; the world hangs on their every word, waiting for a sign that the prolonged stagnation in the euro-zone economy has lifted. In this report, the ECB forecasts a modest return to real GDP growth for 2014 and 2015. This projection is unlikely to set champagne corks popping in Frankfurt, but it marks a welcome change from five years of gloom. getAbstract commends the ECB for its short, albeit technical, prognosis and suggests it as essential reading for all with an interest in European and global economic affairs.
In this summary, you will learn
- How the euro area will return to modest growth in 2014 and 2015,
- What factors will drive this growth, and
- Why inflation in the euro zone will remain below target levels.
About the Author
Situated in Frankfurt, the European Central Bank is responsible for maintaining the euro’s purchasing power and, thus, price stability in the euro area.