The EU Commissioner Moscovici calls for calm: “The data tell us that the recovery there ‘and is’ solid’. Dijsselbloem: the markets are “very volatile, but I’m not sure there are structural reasons, we are in a much better position than they were six years ago.” Pier Carlo Padoan, the collapse observed in the last days is not due to “a specific factor” but “to the global growth outlook, which begin to be less positive than a few months ago”
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continues the black week of world stock markets, dragged down by the banking sector and renewed concerns about the global economic recovery. New thud of the Tokyo Stock Exchange, in the wake of the collapse recorded yesterday on the main continental markets. The Nikkei 225 ended the trading day in fall of 4.84 percent to 14,952 points, then below the psychological threshold of 15 thousand points. Yesterday still a deep red for the European markets, with Milan, which scored the worst performance. Piazza Affari left on the ground 5.63 percent and back below 16 thousand points with generalized sales in all segments as well as bursts of bank suspensions. Jun ‘even Frankfurt (-2.93%), Paris (-4.05), London (-2.4) and New York (-1.6 percent). Male Milan especially banking, with Ubi Banca which lost 12.1 percent, Banca Monte Paschi Siena on 9.88 percent and Banca Popolare Emilia Romagna 9.59 percent.
Invite to calm the European Commissioner for economic Affairs, Pierre Moscovici: “All in the European banking system and ‘much more’ solid of the past,” and in general “we have a solid foundation.” “We know there are risks to our economy caused by internal factors, starting with the slowdown in China, but the data tell us that the recovery there ‘and is’ solid,” he stressed. Along the same lines the Eurogroup President, Jeroen Dijsselbloem, that markets are “very volatile, but I’m not sure there are structural reasons, we are in a much better position than they were six years ago.” The strengthening of banks, he explained, “continues and will continue ‘, and’ the aim of the Dutch Presidency.”
He is echoed by Economy Minister Pier Carlo Padoan, that the collapse of world stock markets observed in recent days is not ‘due to “a specific factor” but “to the global growth outlook, which begin to be less positive than a few months ago.” Italy, added the number one avenue XX Settembre, “continues with the streets of the reforms and the support measures at this stage when the management of bad debts and ‘particularly important.”
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