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Q: Has risk of recession in euro area and.......>

ECB
ECB: Q: Has risk of recession in euro area and Germany increased? Trump has
accused euro of currency manipulation, do ECB worry about international currency
consensus?
- A: ECB still sees risk of recession as pretty low. Signs of resilience in
labour market which continues to improve. Nom wage growth above historical
average. All these elements support consumption. Manufacturing is an important
part of activity in some countries. German and Italian manufacturing is being
hit by idiosyncratic shocks. The ECB's been saying since 2014 that monetary
policy has done a lot but fiscal policy is needed. The ECB don't target exchange
rates and have international consensus on FX.

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