MADRID (MNI) – The Eurozone’s sovereign debt crisis could
deteriorate in the months ahead, European Central Bank Governing Council
member Miguel Angel Fernandez Ordonez warned on Thursday.
“It is obvious that not only have we not exited the crisis, but
rather, the information that we have been seeing shows that it is
possible that it will start to worsen again in the coming months,”
Ordonez, who heads the Bank of Spain, said at a conference here.
The exit from the crisis, he continued, will hinge on how national
governments, Europe as a whole, and global authorities respond.
“At this moment the key to our future lies in the ability of the
European institutions, the European Council and the ECB, as well as the
national governments, to act in a joint manner, each in its area of
responsibility, with the same shared objective: to halt the dangerous
dynamic in which the markets are enveloped.”
Frankfurt bureau tel.: +49-69-720142. Email: dbarwick@marketnews.com
[TOPICS: MGX$$$,MT$$$$,M$$EC,M$X$$$,M$$CR$,M$S$$$]
