After the ECB announced its interest rates leaving them steady at 1%, following was President Jean-Claude Trichet speaking at a press conference stating that economic recovery remains uneven while the current interest rates are appropriate. Trichet's outlook for the economy is that growth will be witnessed but at a moderate pace during this year while still there are low inflationary pressures over the medium term.

Latest economic data have been supporting the fact improvement is taking place yet spending was pared as a result of the cold weather.

Also in the press conference, the stimulus measures were not discussed as a result of the debt crisis spreading throughout the euro zone while the EU and IMF provided Greece with 110 billion euros to help them narrow their deficit before it contaminates different economies.