×
Newsmax TV & Webwww.newsmax.comFREE - In Google Play
VIEW
×
Newsmax TV & Webwww.newsmax.comFREE - On the App Store
VIEW
Tags: global | financial | crisis

ECB Exec: Expect Financial Aftershocks

Monday, 05 October 2009 10:59 AM

BERLIN -- The global financial crisis is probably not completely over and banks are likely to experience further setbacks, European Central Bank Governing Council member Axel Weber said in a newspaper interview released on Sunday.

"We will probably not be spared small aftershocks on the financial markets," Weber told Germany's Handelsblatt business daily.

He added, however, that the magnitude of such aftershocks would be far smaller than the hit the global economy took after the collapse of U.S. investment bank Lehman Brothers in September 2008.

"Economic activity and financial markets are currently in a stabilization phase globally. Nonetheless, the economic crisis will bring further costs for banks," said Weber, who is also president of Germany's Bundesbank.

© 2022 Newsmax. All rights reserved.


FinanceNews
BERLIN -- The global financial crisis is probably not completely over and banks are likely to experience further setbacks, European Central Bank Governing Council member Axel Weber said in a newspaper interview released on Sunday."We will probably not be spared small...
global,financial,crisis
116
2009-59-05
Monday, 05 October 2009 10:59 AM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
Get Newsmax Text Alerts
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved