ECB's Villeroy: Euro-zone is in a significant slowdown, not a recession

The European Central Bank (ECB) Governing Council member - Francois Villeroy de Galhau recently crossed the wires arguing that there is a reason to think that economic slowdown is temporary and that the ECB wanted to show it can react without overreacting.

The Euro-zone is in a significant slowdown, not a recession and France is resisting slowdown better than Germany, Italy, Villeroy added further.