Attention will turn to the details of the European Central Bank's new stimulus measures when the ECB meets on Thursday, as the dust settles after the extraordinary package was announced in June.
The 24-member Governing Council is unlikely to take fresh policy action at its July gathering after cutting interest rates to record lows last month - the deposit rate to below zero - and revealing a 400 billion-euro ($545.62 billion) loan program.
By offering banks four-year loans at ultra-cheap rates, the ECB hopes to entice banks to lend more freely, particularly to small- and medium-sized companies in the euro zone periphery. But the program's fine print has not been released yet.
"It is absolutely not clear how they (the ECB) will enforce the conditionality of the loans," said Marco Valli, chief euro zone economist at UniCredit. "It is difficult to do in practice, because money is fungible."
Banks used large parts of the last round of cheap ECB funding in 2011/2012 to buy higher-yielding government bonds. The question is how the ECB will avoid similar behaviour this time and steer the money towards company loans instead.
Clarification on how long the ECB intends to keep interest rates low will be a key to take-up of the loans, called targeted long-term refinancing operations (TLTROs).