Euro zone takes concrete action at last

摘要

Despite this generally gloomy picture, there are nevertheless factors to support our case for a gradual recovery in global growth in coming years: Crucially, with the euro zone as ever central to the global outlook, political and policy developments there in recent months have been key to easing concerns. Most important was the European Central Bank (ECB’s) announcement in September of a new programme of unlimited purchasing of government bonds from countries that are facing severe financial strains.