ECB Monthly Bulletin
The ECB stated in its monthly bulletin that underlying euro-region price pressures are “expected to remain subdued” and that accommodative monetary policy and an improvement in financial markets should support prospects for an economic recovery later this year.
The central bank expects the region to end 2013 in recession with a GDP in contraction by 0.6%, but expand by 1.1% in 2014.
The European Central Bank also pointed out that Italy’s efforts to cut its deficit were in danger as the nation is in recession.
Not much of news after all.