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European Central Bank Governing Council member Marko Kranjec said he won’t be convinced the euro-area debt crisis is over until he sees a stronger economic recovery.
“I am conservative by nature and until I see some very robust results, I will not be convinced the crisis is over,” Kranjec, who is also governor of Slovenia’s central bank, said in a pre-released interview with the Delo newspaper. “We have seen the fall of yields on debt by all periphery countries, but we cannot exclude another contagion. Personally, I don’t see the light at the end of the tunnel.”
The ECB’s three-year loans to European banks, which eased turbulence on financial markets, have so far failed to spur lending to the real economy, Kranjec said.
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