However, there seems to be no uniform stand on this issue within the Euro Area Countries.
In particular, I have been of the view for quite a while that acceleration of growth to 4 percent or better in 2004 is plausible; and I agree also that the decline in the unemployment rate, though steady, is likely to be slow. Why do I believe that there are grounds for optimism about economic growth, even as more caution is warranted regarding unemployment?