In what could be the bank's least eventful meeting in months, the ECB is set to keep rates on hold, confirm its growth forecasts, make the case for a steady pace in quantitative easing and discuss Greece only briefly, leaving most of the talking to Brussels.
Marco Valli, UniCredit told CNBC-TV18 that in the final part of the week there will be some important survey data, particularly the PMIs in the euro zone and the Germany.
Unicredit's chief economist for the euro-zone Marco Valli explains to CNBC-TV18 that though there is an outbreak of protests across Europe, the signs that the slowdown might be receding have begun emerge from data such as the manufacturing PMI.
Marco Valli, chief euro-zone economist, Unicredit, explains to CNBC-TV18 that any additional demands made by the Troika (the European Union, the ECB and IMF) on Italy and Spain will not be severe as both countries are already implementing the required reforms and fiscal consolidation.
In an interview with CNBC-TV18, Marco Valli, UniCredit said, “There is a clear contraction in manufacturing activity and most likely also negative gross domestic product (GDP) growth.â€