BERLIN (MNI) – The Eurozone’s economic recovery will continue
albeit at a somewhat more moderate pace, European Central Bank Executive
Board member Juergen Stark told parliamentarians from German Chancellor
Angela Merkel’s CDU/CSU bloc Wednesday, according to a lawmaker who
briefed reporters following the meeting.
“Economic growth is broad based and will remain positive … yet,it
will likely moderate somewhat,” CDU/CSU deputy parliamentary leader
Michael Meister said, citing Stark.
Another CDU/CSU lawmaker, who spoke under the condition of
anonymity, said Stark had advised that Germany should forcefully pursue
its interests at ongoing negotiations over Basel III banking
regulations.
Stark also rejected recent media claims that the European bank
stress tests had not been carried out properly, the parliamentarian
added.
Meister’s portrayal of Stark’s growth outlook is consistent with
public remarks Stark made Tuesday evening in Wiesbaden, Germany.
Eurozone growth in the second half of this year will slow following the
“astounding” performance in the second quarter, he told his audience
last night.
–Berlin bureau: +49-30-22 62 05 80; email: twidder@marketnews.com
[TOPICS: M$$EC$,M$$CR$,MT$$$$,M$X$$$,MGX$$$,M$G$$$]
