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ECB's Kranjec Says More Firms Will Fail |
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European Economy |
Written by CEP News |
Oct 07 08 12:36 GMT |
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(CEP News) - There will be more victims in the financial market crisis, but some markets are exaggerating the fear, according to Slovenian Central Bank President Marko Kranjec, also a member of the European Central Bank's Governing Council.
"The financial crisis is far from over," said Kranjec in a press conference in Ljubljana. The euro zone is not yet in recession and the ECB is monitoring the situation before closely, he said, adding that growth in the euro zone is near zero. The central banker also said inflation in Slovenia is expected to slow to 3.5% in 2009 and eventually return to 2.0%, although the timing is uncertain. By Erik Kevin Franco,
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, edited by Stephen Huebl,
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