Signs of uncertainty are already visible in the economic sentiment indicators, which appear to have lost some of their upward momentum in late 2014 and early 2015, as well as in the budgetary slippages in December 2014 and January 2015. Lower-than-expected growth in the euro area and geopolitical risks are additional potential factors of uncertainty.
The episodes of crisis of late have become more frequent with lesser breathing space afforded to the institutions to recover, recoup and be future ready.