Prospects good

The Ifo economic climate in the euro area has improved again in the second quarter of 2007. Appraisals of the current economic situation in Finland, Germany and the Netherlands are particularly favourable. The experts from the Ifo World Economic Survey also expect stable development for Austria, Belgium and Greece over the next six months. However, they foresee a slight weakening of the economic upswing in Ireland and Spain in the second half of 2007. The experts also remain sceptical for the time being with regard to an acceleration of economic activity in France over the coming six months. The current economic situation in Slovenia is assessed as quite positive, in stark contrast to Portugal, where the assessment is again poor.