– The loose monetary policy of the ECB “helps to support” the recovery in the eurozone but also countries must give a “decisive contribution”. Writes in the bulletin of the ECB in December, noting that “it is crucial that structural reforms are credible and effective to encourage investment and anticipate the recovery”.
The risks to the economic outlook of the eurozone continue to be oriented downward, writes the ECB, confirming the cut growth forecasts last week and explaining that the weak growth in the eurozone, together with geopolitical risks, may inhibit private investment and erode trust. In addition, “insufficient progress” on structural reforms are “a significant downside risk.”
Commenting on the economic measures of the government Renzi, the ECB adds: “It is important to ensure full compliance with the requirements of the Stability and Growth Pact and the rule of debt not to jeopardize the sustainability of public finances and maintain market confidence. “
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