Peter Praet: Economic developments in the euro area Remarks by Mr Peter Praet, Member of the Executive Board of the European Central Bank, at the European Finance Forum, Frankfurt, 9 April 2018. * * * I would like to thank Claus Brand, Maarten Dossche and John Hutchinson for their support in preparing this speech.
According to the aforementioned Federal Reserve study of current account corrections in developed countries, although the large majority of episodes were characterized by some significant slowing of economic growth, most economies managed the adjustment without crisis.