BRATISLAVA (Dow Jones) – In the highly indebted countries in the euro area – such as Spain , Portugal , Greece and Ireland – according to estimates by Ewald Nowotny , a member of the Council of the European Central Bank ( ECB), significant progress visible. (Photo : ECB )
"We see a fairly significant progress in the respective countries, " Nowotny said on Tuesday. The EU Commission and the International Monetary Fund (IMF ) have worked well in his estimation .
The risk of deflation in the euro area , according to the Governor of the Federal Reserve Oestrreichischen (OeNB ) is not very high. " The prospect of deflationary tendencies is neither for the whole of the euro area still identify for individual states, " Nowotny said on the margins of a banking conference.
– By Leos Rousek and Margit Feher , Dow Jones Newswires
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