Global economic growth excluding the euro zone is likely to remain strong, European Central Bank Vice President Lucas Papademos said Friday. "At present, despite increased market volatility and a potential slowdown in the U.S. economy, the baseline scenario is that global growth outside the euro area will remain robust at rates above 5%," Papademos said, speaking to journalists on the sidelines of a banking conference. Papademos didn't specify a time frame for his remarks, but he was likely referring to medium-term growth. Thursday, ECB President Jean-Claude Trichet said risks to growth in the euro zone are broadly balanced over the short term, however longer term downside risks include rising oil prices, global imbalances, and national protectionism.