Bloomberg News

ECB’s Kranjec Says European Debt Crisis Not Over Yet, Delo Says

March 30, 2012

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.

To contact the reporter on this story: Boris Cerni in Ljubljana at bcerni@bloomberg.net

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net


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