The European Commission's Vice President Valdis Dombrovskis said on Friday that the European Union's (EU) economy benefits from lower oil prices and a weaker euro. But he added that there are risks to the EU's economy from the slowdown in the emerging economies.

Dombrovskis noted that the economy in the EU is still expected to expand 1.8% this year and 2.1% next year.

He pointed out that the central bank's asset-buying programme "cannot solve structural problems in the economy".