ECB’s Lane says must not be ‘overly dramatic’ about euro zone slowdown

DUBLIN (Reuters) – It is important not to be overly dramatic about a loss of some growth momentum in the euro zone economy that to a large extent is a result of a better that expected performance in 2017, governing council member Philip Lane said on Wednesday.

“2017 was surprisingly good and so some of what happened in 2018 is a reversal of some of the upside in 2017. So there is this view that what we’re seeing to a large extent is just settling down at a more normal pace of expansion,” Lane, the head of Ireland’s central bank, told a news conference.

“All the data clearly show that the European economy continues to grow, that many of the key mechanisms are still quite positive. So I would say it’s important not to be overly dramatic about this.”

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