Trichet Says State of European Economy Is Encouraging

The transcript discusses the European Central Bank's (ECB) asset purchase program and the uncertainty surrounding its potential end in 2018. It highlights the factors influencing the ECB's decision, such as inflation and economic conditions. The discussion also covers the buoyant state of the economy, which is performing better than expected. The speaker emphasizes the importance of collegial wisdom in making future decisions, reflecting on past successes and the need for data-driven choices.

How does the current economic situation compare to previous forecasts according to the text?

What is the significance of collegial wisdom in the ECB's decision-making as mentioned in the text?