ECB's Nowotny: With Eurozone out of recession growth should be given a chance

FXstreet.com (Łódź) - European Central Bank Governing Council member Ewald Nowotny said on Friday that the recession in the Eurozone had ended and that now fiscal policy and monetary policy should „give growth a chance."

Speaking at an economic conference in Vienna, the ECB lawmaker suggested that next year all Eurozone economies except Cyprus would post positive growth and therefore it is important not to „choke this weak growth too early."

Nowotny also pointed out that growth in the area was uneven, adding however that inflation expectations are stable thus no further action is required.