The document discusses the economic situation in the euro-area, highlighting a divergence between consumer confidence and business confidence. It notes that while consumer confidence is up, business confidence is down due to disappointing global growth and financial market stress. The document also discusses the credit impulse and its implications for euro-area domestic demand, as well as the potential impact of oil prices on inflation and GDP. It warns of political uncertainty in Spain and the rise of populism in Italy and Spain, and calls for further integration in the euro area to address structural issues.
documents/vol00010-efta01459616-pdf.pdf
{"title":"Focus Europe: Dark clouds, no storm yet","document_type":"other","key_locations":["Euro area","Spain","Italy","Germany","France","Portugal","Ireland","Greece"],"key_organizations":["Deutsche Bank","ECB","Euroster","Haver Analytics LP"]}