Given cheap oil, super low interest rates and massively expansionary monetary policy, it’s not surprising the euro-zone is finally growing. What’s surprising is that the Q2 rate was just 0.3%, lower than the dismal Q1 rate 0f 0.4%! With such weak growth, euro-zone unemployment won’t decline and inflation won’t rise. Thus, the ECB won’t terminate its €60 billion/month asset purchase program early, but will surely see it through to 9/16.