Europeans See Crisis Near End, Bernanke Warns on Recovery
Bloomberg reported that European leaders signaled rising confidence that their region’s crisis is near an end, while Fed chairman Ben S. Bernanke warned that a U.S. recovery isn’t assured.
The euro area’s woes are “almost over” after a slow initial response by policy makers, Italian Prime Minister Mario Monti said in Tokyo. German Chancellor Angela Merkel said that the crisis is ebbing and her country’s borrowing costs will probably rise as its status as a haven wanes, Bloomberg notes.
In an interview, Bernanke is quoted by Bloomberg as saying, “It’s far too early to declare victory.” The jobless rate remains too high and policy makers don’t rule out further options to boost growth.
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