Paper never refused ink: reforms will be short-lived without a change in attitude Ladies and gentlemen, as you can tell, I am a realist. And that brings me to the third point I would like to make – that even the best reforms will only go so far if they are not accompanied by a permanent change in attitude.
But the quarterly growth pattern might be very uneven, and the uncertainty surrounding this outlook remains unusually high, given that some of the factors supporting growth are temporary in nature. This outlook is broadly in line with the September 2009 ECB staff macroeconomic projections for growth in the euro area, which have been revised upwards compared with the June 2009 Eurosystem staff projections.