Nowotny: “The Worst Is Over”
OeNB´s (Austrian National Bank) governor Ewald Nowotny thinks that the economic situation in the Eurozone has become more stable.
According to Nowotny, the CESEE countries tend to become more stable. “We are on the right way. It is still very difficult, and we have not reached our target yet. But we are heading in the right direction.”
Nowotny argues that the Eurozone has no currency crisis, but a crisis of single member countries. “The crisis is not over yet, but the worst is over.” After 2007, the…