Alarm ECB on the accounts of Italy . In the monthly bulletin, the Eurotower states that risks remain ” on the Italian government’s ability to meet the objective of a budget deficit equal to 2.6% of GDP in 2014, especially after the economic situation is worse than expected result ”. So, the invitation to ” a further consolidation of the budget to be in line with the Stability Pact ‘.’
In the third quarter of modest growth, lost momentum – ” In the third quarter, growth in the eurozone, according to the indicators available until August, will lose momentum and will continue to expand at a modest pace ”. On the resumption, it detects the ECB will continue to weigh, among other things, ” a high rate of unemployment ‘.’
Unanimous on new extraordinary measures if necessary – ” In the case of too long a period of low inflation, the Governing Council of the ECB is unanimous with regard to the use within its mandate to further unconventional tools to address the risks. ”
remain downside risks to eurozone economy – ” The risks to the eurozone economic outlook continues to be tilted to the downside ‘.’ The slowdown in growth might inhibit private investment and geopolitical risks could have a more pronounced further negative impact on the confidence of businesses and households.
Many countries have made progress on reforms, others have not yet – ” On the face of structural reforms many euro countries have made significant progress while in other countries the measures have yet to be implemented ‘.’ This was written by the ECB in the bulletin, stressing that now all efforts for reform must gain momentum to reach a sustainable growth and boost employment in the euro area ‘.’
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