Crippled eurozone to face fresh debt crisis this year, warns ex-ECB strongman Axel Weber

By

 Axel Weber, the former head of the German Bundesbank, said: "Markets are currently disregarding risks, particularly in the periphery." Photo: Bloomberg


Axel Weber, the former head of the German Bundesbank, said: “Markets are currently disregarding risks, particularly in the periphery.” Photo: Bloomberg

Ex-Bundesbank head Axel Weber expects fresh market attacks on eurozone this year and economist Kenneth Rogoff says the euro was a “giant historic mistake”

A top panel of experts in Davos has poured cold water on claims that the European crisis is over, warning that the eurozone remains stuck in a low-growth debt trap and risks being left on the margins of the global economy by US and China.

Axel Weber, the former head of the German Bundesbank, said the underlying disorder continues to fester and region is likely to face a fresh market attack this year.

“Europe is under threat. I am still really concerned. Markets have improved but the economic situation for most countries has not improved,” he said that the World Economic Forum in Davos.

Mr Weber, now chairman of UBS, said the European Central Bank’s stress test for banks in November risks setting off a new sovereign debt scare, reviving the crisis in the Mediterranean countries.

Lees verder >>

Comments zijn gesloten.
About Fubar (5735 Articles)
Na meer dan 10.000 kortere en langer artikelen op dit blog en 10.000 op andere blogs ga ik langzamerhand afscheid nemen. Dit blog is in goede handen. De populariteit én onbemindheid nemen in gelijke mate toe. Een mooiere bevestiging van onze onafhankelijkheid kunnen we niet wensen. Ik blijf meekijken, en af en toe wat publiceren, maar andere projecten roepen...

Geef een reactie

Vul je gegevens in of klik op een icoon om in te loggen.

WordPress.com logo

Je reageert onder je WordPress.com account. Log uit /  Bijwerken )

Google photo

Je reageert onder je Google account. Log uit /  Bijwerken )

Twitter-afbeelding

Je reageert onder je Twitter account. Log uit /  Bijwerken )

Facebook foto

Je reageert onder je Facebook account. Log uit /  Bijwerken )

Verbinden met %s

%d bloggers liken dit: