If the headwinds from energy costs fade, the sky for growth should start to clear a little bit,

It really is a case of taking a sledge hammer to crack a nut.

It's an encouraging sign,

There is already a lot of flexibility built into the pact.

Any move could be counter productive for OPEC, ... They need strong economies to maintain demand.

This is very bad timing for the euro, and the report won't go down well with finance ministers or the European Commission, which is firmly against relaxation,