Arab Today, arab today eu poses risk to us global economies
Last Updated : GMT 03:15:12
Arab Today, arab today
Arab Today, arab today

EU poses risk to US, global economies

Arab Today, arab today

Arab Today, arab today EU poses risk to US, global economies

Washington - AFP

Europe continues to present barriers to growth in the US and global economies, a top US Treasury official said Friday, citing the Cyprus crisis. \"The risk of financial instability in Europe remains a risk to our recovery and the global economic outlook,\" said the official, who spoke on condition of anonymity ahead of Treasury Secretary Jacob Lew\'s visit to the European Union next week. \"Recent events in Cyprus remind us that Europe continues to navigate a challenging path of fiscal and financial reform,\" the official said. The official noted the situation in struggling Cyprus, which struck a 10-billion-euro ($13 billion) bailout deal this week with the EU, the European Central Bank (ECB) and the International Monetary Fund. \"We have been struck by many comments made by Europeans officials stressing the uniqueness of Cyprus and of course we also recognize that Cyprus has some very unique features,\" the person said. The senior US official underscored that many banks in Europe were large relative to the size of their home markets, and called on authorities to make further progress toward a common eurozone institutional framework. Such a banking framework, used for recapitalization, restructuring, resolution and deposit insurance, would create a \"common backstop\" to contain contagion risks. \"The framework for oversight... within the euro area still is not commensurate with the scale and cross-border reach of the national banking sector.\" The US official also said it was \"vital\" to see rebalancing within the euro area, calling for surplus economies to contribute more to demand in order to ease adjustment in the periphery, \"avoid austerity fatigue and renew Europe\'s economic vibrancy.\" Lew, in his visit to Europe Monday and Tuesday for talks with counterparts on the global and European economies, will notably meet with ECB President Mario Draghi.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today eu poses risk to us global economies Arab Today, arab today eu poses risk to us global economies

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today eu poses risk to us global economies Arab Today, arab today eu poses risk to us global economies

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
View News in Arabic - Business: مصارف
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday