Dan O’Brien: Can the European Central Bank hold its nerve against the economic headwinds?

The eurozone economy will grow at an above-average pace this year. It will also grow solidly again next year. Inflation will fall back sharply and the Irish economy will follow the same positive pattern.

These relatively rosy scenarios are what the European Commission's economic service believes. But are they right?

When the commission’s bi-annual set of predictions for the European Union economy and its individual member countries was published last week, its forecasts for economic ...