Statement of ECB’s board member Gi Kaden.

The recession in the euro zone is technically finished, but the economic recovery appears to be moderate, said the board member of the European Central Bank (ECB), Gi Kaden.

In an interview with the Belgian weekly Vif Extra, "Kaden argued that the economies of France and Germany during the second quarter of 2009 noticed a slight increase, which probably is the case with most other members of the euro zone”.

According to him, the global economic activity today is largely a result of the government incentive measures such as the subsidies for replacing old vehicles with new energy efficient and environmentally more profitable.

However, according to him, economic growth in the next few years will not be as great as was the case in the past, but on the other hand it will probably be much more stable.