European Central Financial institution president Mario Draghi announced that “projections for actual GDP progress have been revised considerably downwards” for the approaching years throughout a four December press convention. The GDP of the eurozone “is anticipated to develop by 0.eight per cent in 2014 (from 0.9 per cent three months in the past), by 1 per cent in 2015 (from 1.6 per cent) and by 1.5 per cent in 2016 (from 1.9 per cent)”, reports Corriere della Sera.

“This isn’t the one unhealthy information”, provides the Milan day by day: “Draghi has as soon as once more reduce the eurozone’s inflation forecast” over “fears of the deflation precipice coming nearer – a danger the ECB want to keep away from.”

For the Corriere, the announcement marks —

the top of an period, that of the ECB president’s verbal ensures concerning the eurozone. Up to now two years, Mario Draghi’s ECB has constructed some belief within the single foreign money and, in the identical time, purchased a while for the eurozone’s politicians to implement the promised reforms and for banks to adapt their inner processes below Frankfurt’s supervision. […] Phrases will not be ample any extra, now that the figures present how anemic the eurozone actually is.

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