At the ECB's press conference on Thursday 2 September, after holding eurozone interest rates unchanged, Jean-Claude Trichet said looking ahead, the conditions for a continuation of the recovery remain in place. We expect the economic recovery in the euro area to continue and to become more broadly based over the coming quarters, leading to a somewhat stronger upswing in the course of 2005, he said.

"Overall, the risks to these projections seem to be broadly balanced. On the upside, the ongoing