Head of the EFSF speaking in Beijing
- Stability mechanism has enough firepower if needed
- All indicators show European recession is behind us
- Euro area crisis is not over
And this is the problem with European bigwigs, they’re all too quick to claim victory when none such exists. They may well be out of recession technically but they’re not safe yet. Now I bang on about the UK recovery but I’m not stupid enough to think we’ve seen the back of economic problems.
