German central banker says Eurozone stabilizing

President of the German Bundesbank Jens Weidmann said deflationary concerns in the Eurozone had subsided in a press conference. At the same time preliminary data published by Eurostat indicated that the consumer price index show a -0.1% deflation. According to Marketwatch, Weidmann underlined that economic recovery in the Eurozone is stabilizing, in contrast to January when the ECB had first alluded to a quantitative easing program. As Weidmann noted a lackluster financial year in the Eurozone combined with sluggish prospect for inflation had rendered a facilitating fiscal policy necessary.