OeNB Governor Nowotny "During the Crisis, the Euro Acted as a Protection Shield Beyond the Euro Area"

OeNB Governor Nowotny "During the Crisis, the Euro Acted as a Protection Shield Beyond the Euro Area" / Picture: © Wikipedia / Christian Wirth (Wirthi)

Not only the euro area benefits from the Economic and Monetary Union, but the whole of Europe. The euro area and the countries of Central, Eastern and Southeastern Europe (CESEE) must now, however, reduce their vulnerability and retake their previous course of growth in the medium term, according to Ewald Nowotny.

Given the increased risk aversion of traditional investors,…