ECB's Nowotny says it will be difficult to reach inflation goal

ECB's Nowotny and Austrian CB gov speaking in Vienna

• oil price drop is extraordinary
• core inflation more in equilibrium vs headline figure
• ABS purchases haven't been as successful as hoped
• ECB's unconventional measures are working though

Trying to put a brave face on a difficult situation still.

• China undergoing change which is a challenge but I am convinced China will master this challenge
• of course China slowdown has effects on Eurozone but " as far as I see it is mainly effects on raw material exporting countries"

Really? Keep your head in the sand why don't you.