Tuesday, 6 October 2009

IMF:ECB Weber:Only Seeing Green Shoots, Downside Risks Remain

Tue, Oct 6 2009, 11:01 GMT
http://www.djnewswires.com/eu

IMF:ECB Weber:Only Seeing Green Shoots, Downside Risks Remain

ISTANBUL -(Dow Jones)- Recent positive signs in the global economy are too fragile for policy makers to assume growth has resumed, European Central Bank governing council member Axel Weber said Tuesday.

"We're only seeing green shoots...downside risks remain," Weber, who is also German Bundesbank president, said in a speech to the International Monetary Fund's board of governors at the IMF/World Bank annual meetings in Istanbul.

Fiscal and monetary stimulus measures adopted to combat the sharpest global recession in decades shouldn't be unwound at this point, said Weber.

Existing stimulus measures should remain in place until a recovery is clearly in sight, he added.

-By Christopher Emsden, Dow Jones Newswires; +39-02-58-21-99-05; chris.emsden@dowjones.com

Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=ayP1X7kVnr7MWhQ1SnmXpA%3D%3D. You can use this link on the day this article is published and the following day.

(END) Dow Jones Newswires

October 06, 2009 07:01 ET (11:01 GMT)


Copyright 2009 Dow Jones & Company, Inc.

Bank Of Spain Gov: Spain Economy Could Suffer A Long Slump


Tue, Oct 6 2009, 11:01 GMT
http://www.djnewswires.com/eu

Bank Of Spain Gov: Spain Economy Could Suffer A Long Slump

MADRID -(Dow Jones)- Spain's economy will likely recover later than others in Europe and could suffer a prolonged slump unless there are ambitious reforms, Bank of Spain Governor Miguel Angel Fernandez Ordonez said Tuesday.

In annual parliamentary testimony on the government's budget proposal for the following year, Fernandez Ordonez said tax and spending reforms are needed to rein in Spain's spiraling budget deficit.

-By Jonathan House, Dow Jones Newswires; +34 619 93 39 52; jonathan.house@dowjones.com

Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=ayP1X7kVnr7MWhQ1SnmXpA%3D%3D. You can use this link on the day this article is published and the following day.

(END) Dow Jones Newswires

October 06, 2009 07:01 ET (11:01 GMT)


Copyright 2009 Dow Jones & Company, Inc.

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