Videos | February 13, 2012

Economic update February 2012

The mood of financial markets improved over the last month – but ING economists ask if it will last.


Economic data “better than expected”
ING Bank head of macro and consumer economics Maarten Leen says in the latest eZonomics economic update video that the European Central Bank’s “generous” long-term liquidity operation is an important factor, as are “better than expected” economic data in the United States and Germany.

Greece must do better
But Leen says a bitter turn could be on the way. More fiscal austerity is likely to become a headwind to growth in Europe and the eurocrisis is ongoing.
“Greece is making far too little progress in making its economy more competitive; a necessary condition for long term debt sustainability,” says Leen. “Financial market sentiment has definitely improved but it is too soon to conclude that all is going to be well.”

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