ECB's de Guindos: euro area is not immune to spillovers from other regions

Below are some key highlights from the speech delivered by Luis de Guindos, Vice-President of the ECB, at The ECB and Its Watchers XX conference, Frankfurt am Main, 27 March 2019.

• The euro area is not immune to spillovers from other regions.
• ECB monetary policy actions are, by and large, able to shield the euro area economy from spillovers from US monetary policy.
• Structural factors are weighing heavily on euro area banks’ profitability.