ECB’s De Guindos: The euro area economy has proved fairly resilient

The vice-president of the European Central Bank, Luis de Guindos, said that the bloc’s economy had proven resilient but faced a number of risks, such as tariffs, that could curb growth.

Key Quotes

• The use of the US dollar in international funding, payment and trade transactions, or as a reserve currency, will not be challenged in the short term.
• But the role of the euro can gradually expand, especially if we deliver on “more Europe.”
• The euro area economy has proved fairly resilient to date, supported by a strong labour market.
• Recent developments may well have a dampening impact on growth in the euro area.