Financial Crisis to Continue, Says Eurogroup President Juncker
Eurogroup head Juncker said the financial crisis has not come to an end, adding that while the impact on the real economy is "uncertain" the crisis is not helpful for growth. Juncker said the Euro-Zone's financial sector is stronger than that of the U.S., but added that the Euro-Zone will have to deal with the indirect impact of the crisis. He said the actions of the U.S. are confidence building measures and called for a speeding up of supervision reforms. At the same time Juncker stressed that he doesn't see "the danger of recession in the deeper sense of the word" and even though he admitted that "growth will clearly weaken", he also said that the principle concern is inflation in the euro area, which does not sound as though there is any political pressure on the ECB to cut rates.
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