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FRANKFURT Alvin Kamara Womens Jersey , Dec. 31 (Xinhua) -- Eurozone economy is expected to grow by about 1.6 percent in 2016, slightly stronger than market expectations, partly thanks to the perseverance of the European Central Bank (ECB) in pumping money into the market through a bond-buying program since January 2015.


Of equal significance, the year 2016 has been the first full year that the eurozone's gross domestic product (GDP) was back to its pre-crisis size.


Risks, however, have also markedly rised in 2016 in the 19-country eurozone.


"Much of the concern in the eurozone now centers on the euro Marshon Lattimore Womens Jersey ," banking giant HSBC said earlier in a special report.


In the second half of 2016, the euro fell to the lowest level in years. "Politics is set to become a bigger driver of the euro from here," HSBC said.


Meanwhile, the market is worried about the fade-away effect of an exceptionally loose monetary policy. The much-anticipated structural reforms are heading to nowhere.


EUROPEAN QE


The ECB announced government bond purchases in January 2015.


As an unconventional policy tool to boost an economic recovery in the euro area, the expanded asset purchase program, known as European version of the Quantitative Easing (QE) Drew Brees Womens Jersey , has been implemented since March 2015.


Since then, the ECB has been keeping a loose monetary policy, leaving key interest rates at the historical lowest level, in particular cutting the deposit rate to negative territory.


"So far, monetary policy has been the only expansionary macroeconomic policy in support of the recovery," ECB Vice President Victor Constancio has said.


On Dec. 8 Michael Thomas Womens Jersey , the ECB said it would conduct an extra nine months of QE to the end of 2017, but scale down monthly bond purchases from 80 billion euros (84 billion U.S. dollars) to 60 billion euros (63 billion dollars).


Undoubtedly, the ECB's loose monetary policy has significantly contributed to the eurozone recovery.


In its annual report released in early November, the German Council of Economic Experts (GCEE) said that the ECB's unusually expansionary monetary policy has been a key factor in the eurozone upturn.


Though ECB President Mario Draghi insisted he was not tapering his stimulus, the GCEE disagreed, saying that current monetary was no longer appropriate for the eurozone.


"The extent of monetary easing in the euro area is no longer appropriate given the region's economic recovery. Consequently Authentic P.J. Williams Jersey , the ECB should slow down its bond purchases and end them earlier," the GCEE