TOKYO — Italian Prime Minister Mario Monti on Wednesday played down the risk that economic troubles in Spain would spread to the rest of Europe and said he believed the eurozone debt crisis was nearly over.
Only last weekend Monti expressed concern about the state of finances in Spain and warned it would not take much to reignite the eurozone debt crisis and revive the risk of it spreading to Italy.
In recent days, however, he struck more optimistic tones.
“Spain, I’m sure, is on a steady course of budgetary consolidation,” Monti told reporters in Tokyo, where he arrived from a nuclear security summit in South Korea.
“And contagion as a whole, I hope, will soon belong to the past now that more discipline has been adhered to by most member states, and now that the firewalls are being in the process of being fortified,” he said.
“You all know that the eurozone has gone through a crisis, a huge crisis. I believe this crisis is now almost over,” Monti said in a speech earlier…
Firms and consumers continued to pull their money out of Greek banks at a rapid rate in February, European Central Bank data showed on Wednesday, underscoring the ongoing lack of trust the country’s banking system faces.
Private sector deposits in Greek banks fell by 2.7 percent in February after a near 3 percent drop in January, with the total falling to 170.1 billion euros, the lowest level since October 2006.
They are now 30 percent below their peak in December 2009.






Comments