High oil prices 'handicap' eurozone says Issing

European Central Bank chief economist Otmar Issing said on Tuesday 26 April that the high price of oil is a "handicap" to the eurozone economy.

He also said the eurozone is likely to experience "weak" growth in the second quarter of this year.

In Germany in particular, the latest data are "anything but encouraging," Issing said on the sidelines of a financial congress. Nevertheless, the German economy could experience a "pick-up in growth in the second half of this year," Issing said.