Spain's Ordoez upbeat on eurozone growth

Sound fundamentals and robust global growth should support relatively favourable medium-term economic conditions in the eurozone, says Miguel Fernandez Ordoez, the governor of the Bank of Spain.

However, Ordoez added that the governing council of the European Central Bank, which sets rates for the zone, would need some time to fully grasp the consequences of this outlook for its monetary policy stance because of the uncertainty surrounding global economic conditions.

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