But first I will briefly review the economic situation in the euro area to provide you with some context for our decisions. Macroeconomic context Following a flat reading for real GDP in the second quarter, the euro area economy is likely to resume its recovery path in the third quarter, but only at a modest pace.
As detailed in his book of the same title, John worked extensively on the financial reconstruction of Iraq and on the development of financial tools for fighting terrorism. The Treasury Department recognized his efforts in 2004 with its Distinguished Service Award and in 2005 with the Alexander Hamilton Award for leadership in international finance.