European Central Bank Executive Board member Panayotis Takasalidis: The eurozone economy has resilience.

Member of the European Central Bank Governing Council and Governor of the Central Bank of Cyprus, Panicos Demetriades, stated that the eurozone is successfully facing the current geopolitical challenges. "Despite international difficulties, the eurozone economy remains resilient," Demetriades said. "However, there is still uncertainty in the economic environment, mainly due to trade tensions." The European Union reached a trade agreement with the United States last week, which Demetriades believes "eliminates a source of uncertainty." He pointed out that "geopolitical risks, geopolitical instability, trade conflicts" have made policymakers more conservative in their predictions and added that "future uncertainties are very high." However, Demetriades, along with other officials, believe that inflation remains within expectations overall and they are confident that inflation will stabilize at the European Central Bank's target level of 2% in the medium term.