Pour la BCE, la santé de la zone euro s’améliore, mais des risques demeurent

Infographie : F. Descheemaekere

[The New York Times]

E.C.B. Sees a Healing Euro Zone but Warns of Risks

Tensions in the euro zone have eased noticeably since the summer, the European Central Bank said Friday, but it warned that the situation remained fragile in part because commercial banks were still in a weakened state. “There is a risk in spite of the recent improvements,” Vitor Constâncio, the vice president of the E.C.B., said at a press briefing Friday. In its twice-a-year report on financial stability, the E.C.B. noted a number of indications that the euro zone is starting to heal. For example, borrowing costs for troubled countries have dropped substantially, and banks in Portugal and Ireland have regained access to money markets.
Countries including Spain and Italy have been able to increase their exports because labor costs have fallen, improving their competitiveness, the E.C.B. said. While that is positive, it came about partly because of high unemployment and falling wages.

Lire : nytimes.com