|
The European Banks Economic Outlook for the next year
The euro area economy starts slowly to gain momentum, gradually picking up the pace towards recovery, confirm Chief Economists of European banks who make up the European Banking Federation’s EMAC* Committee, as they publish today their Economic Outlook for 2010. Indeed, the massive monetary and fiscal policy impulse provided by the European Central Bank and governments in 2009 will prevent the EU from experiencing a more prolonged recession. “We know that this recovery will however not be an easy one”, declared Alejandra Kindelan, Chair of EMAC and Senior Director of Economic Studies of Grupo Santander. “This is particularly underlined by the fact that the stimulus will have to be withdrawn; furthermore the uncertainty...
|