November 12, 2018 / 9:59 AM / a month ago

Euro zone growth slowdown is a return to normal - ECB

Vice-President of the European Central Bank Luis de Guindos listens during the news conference following the meeting of the Governing Council of the European Central Bank in Riga, Latvia June 14, 2018. REUTERS/Ints Kalnins

FRANKFURT (Reuters) - Euro zone growth is merely returning to normal after an exceptional 2017 and the slowdown is primarily due to weaker external demand, European Central Bank Vice President Luis de Guindos said on Monday.

He added that negative market spillovers from Italy’s recent budget tussle were so far limited, and argued that Rome’s main problem was not high spending but weak growth, which can only be addressed through longer term, structural reforms.

Reporting by Balazs Koranyi; Editing by Kevin Liffey

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