ECB’s Panetta: Signs of weakness in Eurozone economy are more persistent than anticipated

• We expected a recovery driven by consumer spending
• However, that did not materialise

It’s tough when the supposed backbone of the euro area economy i.e. Germany is struggling hard on that front. Stagflation woes remain with prices continuing to stay high in Europe’s largest economy. And that’s been a major drag overall to the outlook.

This article was written by Justin Low at www.forexlive.com.