The so-called surprise index that compares actual macroeconomic data with consensus estimates of market analysts shows that on average the latest news is positive. The slowdown in growth has reversed. Euro area real GDP rose by 0.3% quarter on quarter in the last quarter of 2014, which is somewhat higher than previously expected.
The scoreboard is a key element in this [and I am aware that Parliament is very attached to its involvement in this respect]. Let me stress that the scoreboard is a means to an end – namely the detection of macroeconomic imbalances that threaten the proper functioning of monetary union.