GDP figures may dash recovery optimism

Any lingering hopes that the European Central Bank (ECB) had either already solved the euro-zone crises or would yet come riding to the rescue with much more decisive action were surely put to bed by last week’s post-interest rate announcement press conference. President Draghi went out of his way to repeat the message that the ECB feels no compulsion at all to help governments to address their wider economic and fiscal problems and will not fire a so called “silver bullet“ into the crisis.