ECB Governing Council member Erkki Liikanen said the freefall in the euro zone economy has ceased, but it would take time before growth would pick up.
"One can believe the freefall in the euro zone economy has stopped. However, it will take time before we can speak about recovery," Mr Liikanen was quoted as saying by Finnish daily Uutispaiva Demari.
Mr Liikanen, speaking at a seminar in Finland, said recovery of the global economy would start in China and India, adding also the Japanese economy was showing positive signs.
Reuters