November 12, 2018 / 9:58 AM / in 5 months

Euro zone growth slowdown is a return to normal: ECB

FILE PHOTO: Vice-President of the European Central Bank, Luis de Guindos, June 14, 2018. REUTERS/Ints Kalnins/File Photo

FRANKFURT (Reuters) - Euro zone growth is merely returning to normal after an exceptional 2017 and the slowdown is primarily due to weaker external demand, European Central Bank Vice President Luis de Guindos said on Monday.

He added that negative market spillovers from Italy’s recent budget tussle were so far limited, and argued that Rome’s main problem was not high spending but weak growth, which can only be addressed through longer term, structural reforms.

Reporting by Balazs Koranyi; Editing by Kevin Liffey

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