ECBÂfs Liikanen ÂÂ¡Likely global growth in late 2011 and early 2012 will be weaker than expected. ÂÂ¡Uncertainties related to decision making and public finances have exacerbated problems. ÂÂ¡Substantial economic weaking in the Euro zone can not be ruled out. ÂÂ¡Sees equally strong upside and downside risks to inflation outlook. ÂÂ¡Uncertainty has also increased in emerging economies. ÂÂ¡ECB has sought to ensure liquidity for European banks. ÂÂ¡ECB balance sheet growth doesnÂft boost inflation, and the ECB has sterilized bond purchases.