ECB’s Constancio: Euro area recovery is becoming increasingly robust

The European Central Bank (ECB) Vice-President Constancio is out on the wires now, via Reuters, making a scheduled speech on the Euro area economic outlook ahead of the ECB policy announcement due next week.

Key Headlines:

Ongoing cyclical EZ recovery is now broader and more consolidated

Strong worldwide reflationary phase that seemed likely at start of 2017 has not materialized

EZ now more resilient to shocks

Upturn is not only strengthening and broadening, but it’s also starting to rest on more solid structural foundation

Euro area recovery becoming increasingly robust, but financial conditions may still deteriorate quickly

The tasks of normalizing inflation & unemployment to acceptable levels continue to be difficult