For this, it would be desirable for the governments to withdraw from direct participation in the housing and housing finance sector and instead they need to take on the role as facilitators to create the enabling environment to encourage greater private sector participation.
Most importantly, the euro area as a whole has finally emerged from recession. So far, we have seen four consecutive quarters of positive growth, and looking ahead, we expect growth to continue. Latest projections by the ECB suggest that euro-area GDP will grow by 1.0% in 2014 and by 1.7% in 2015.