Andreas Dombret, a director at Germany's Bundesbank, said that the euro area has not yet returned to full strength, in a speech in Pretoria, South Africa.

Key quotes (via Reuters):

• Eurozone recovery "increasingly robust, broad-based"
• Growing consensus that downside risks to this outlook have receded
• Signs of a sustained turnaround in Eurozone inflation are "muted"
• There is a broad consensus on the whole that an expansionary monetary policy is very much justified
• Central banks cannot stimulate growth on a sustainable basis