Looking ahead to the remainder of 2006 and 2007, the conditions remain in place for the euro area economy to grow at solid rates around potential, with some volatility in the quarterly growth rates likely to emerge around the turn of the year. Global economic activity has become more balanced across regions and is still robust, thereby providing ongoing support for euro area exports.
However, the decline the debt to GDP ratio in the past 20 years derived not only from fiscal restraint steps but also from other factors that there is no guarantee will be on our side in the future when we want to lower the debt to GDP ratio.