Lucas Papademos: ECB Financial Stability Review December 2006 Opening remarks by Mr Lucas Papademos, Vice President of the European Central Bank, at the press briefing on the occasion of the publication of the December 2006 ECB Financial Stability Review, Frankfurt am Main, 11 December 2006. * I.
But the foremost uncertainty in the outlook continues to centre on Japan, where the economy remains in a slump. Nevertheless, if present efforts at bank reform continue, and if stimulative macroeconomic initiatives are pursued systematically, the Japanese economy should begin a gradual recovery, perhaps by late 1999.