World War II through the lens of TASS' legendary photographerSociety & Culture March 23, 15:20
Putin promises four-fold rise in Russian precision weaponry’s strike potentialMilitary & Defense March 23, 15:10
Ukraine’s top military brass labels blasts at ammo depot as ‘act of sabotage’World March 23, 14:41
Suspected killer of former State Duma MP now in hospital 'under police protection'World March 23, 14:31
Kremlin denies any involvement in Manafort-Deripaska contactsRussian Politics & Diplomacy March 23, 14:26
Former member of Russia’s State Duma gunned down in KievWorld March 23, 13:42
Putin says Russian-Chinese ties reached unprecedentedly high levelRussian Politics & Diplomacy March 23, 13:40
Lavrov says Russian-US relations in ‘stand-by mode’ for nowRussian Politics & Diplomacy March 23, 13:00
Press review: Kiev bans disabled Eurovision singer and Russia's arms sales skyrocketPress Review March 23, 13:00
DAVOS, January 22. /ITAR-TASS/. The economic situation in Europe will not improve in 2014, and debt-related risks still remain, said Board of Directors Chairman of UBS bank and former Bundesbank president Axel Weber at a panel discussion at the World Economic Forum in Davos.
Thinking that Europe is currently recovering from the crisis is a one-sided approach, noted Weber. He added that Europe’s economic growth did not exceed 1% and was due to key countries.
“Monetary policy of the European Central Bank led to a rather stabilized situation in the economy of European countries, but in 2014 there are two main risks for the European economy,” said Weber. Firstly, elections to the European Parliament in 2014 create certain political risks considering the complication of the decision-making process, Weber noted. Secondly, European banks will undergo a massive asset quality check, he continued, “All banks will undergo this procedure.” “If there are new risks from banks, then sovereign debt risks will also grow, and this will soon influence financial markets,” Weber concluded.