ECB’s Escriva Says Downside Risks Are Outweighing Upside Risks

Risks to euro-zone economic forecasts are more to the downside than the upside, according to European Central Bank Governing Council member Jose Luis Escriva.

“The more disruptive scenarios aren’t materializing,” the Spanish central bank chief said. “That doesn’t mean they couldn’t take us by surprise. We need to be readier than ever to revise our forecasts, therefore the relevant caution.”