President Weidmann talked today, keeping his pessimistic tone, about the situation of Euro zone, as things are getting worse. In his opinion, the monetary policy is not working for an economy in trouble and people should see that in U.S. and Japan on the long term. In consequence, the OMT program is just another experiment that is being run in the Eurozone, unfortunately with low chances for success. At least another 10 years are needed and important structural overhauls in order to see real improvements. He also suggested that the ECB should not be the only one in charge with solving the euro’s problems but we also should see another policy makers contribute. The German rigor is asking for more radical measures but is questionable if the prudent Europeans will follow this advice.
Meanwhile, other steps are taken for the most important trade deal on the world. The E.U. – U.S. relationship, meant to stimulate economic growth in both the countries, will be establish in detail starting with next month. It is may believe that this project has potential and could help Europe in rasing its exports, while for Eastern Europe are visible many opportunities for growth thus, catching up with the West.