ECB chief economist Peter Praet speaking in Sole published today 24 March

  • inflation risk in EZ is now gone
  • deflation risk in EZ is now gone
  • ECB didn't discuss sequencing
  • more slack in jobs market than data shows
  • doubts multi-laterism are worrying

On Italy:

  • return to lira won't solve Italy's problems
  • low growth shows acute structural problems

Nothing of any real note that we didn't already know.

Euro suitably unfazed.