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September 30, 2013

Crisis easing but outlook uncertain

By Paolo buy canada goose jacket BiondiRIMINI, Italy, Aug 26 (Reuters) The global buy canada goose jacket cheap financial canada goose coats and economic crisis is easing but the outlook remains uncertain and economies could weaken again once public stimulus is withdrawn, European Central Bank governing council member Canada Goose Outlet Mario Draghi said on Wednesday.Draghi, who heads the Financial Stability Board and is governor canada goose clearance of Italy central bank, said at a conference cheap Canada Goose in the Italian coastal town of Rimini that recovery would be assured only when credit markets are functioning properly again.economic and financial canada goose crisis that has hit the world economy over the last two years is gradually Canada Goose Parka receding, Draghi said, adding that around canada goose uk shop the world there is canada goose black friday sale a growing that the worst is over.However, he cautioned that are still strong uncertainties over the sustainability of the uk canada goose outlet (positive) signals, and added that he personally did not feel confident enough even to confirm that the lowest point had been reached.His words echo similarly cautious comments in recent days on the nascent economic recovery from other ECB officials.This week ECB Executive Board Member Jose Manuel Gonzalez Paramo said Canada Goose Coats On Sale the Canada Goose Jackets situation is still uncertain and canada goose store Luxembourg central canada goose uk outlet bank governor, Yves Mersch, warned danger of canada goose factory sale a renewed downturn is not yet over.The ECB is expected to raise its outlook for economic growth in the 16 nation bloc when it issues new staff forecasts next month. The canada goose clearance sale mid point of the bank previous projections, in June, envisaged growth would contract by 4.6 percent this year and shrink by 0.3 percent in 2010.Draghi said the fall in Italian industrial output probably bottomed out over the summer and the euro zone third largest economy could grow again, slightly in 2010.Gross domestic cheap canada goose uk product is expected to fall around 5 percent this year, Draghi said, after contracting 1.0 percent in 2008.The Italian government is forecasting a fall of 5.2 percent in 2009 and growth of 0.5 canada goose coats on sale percent Canada Goose online next year.Draghi said Italian banks had a role for the economy in coming Canada Goose Online months and, while ensuring their financial stability, they should offer support canadian goose jacket to productive companies which are illiquid but fundamentally solid.He warned that Italy, which has been one of the euro zone most sluggish economies for at least a decade, may continue to underperform its partners when the global crisis is over.the crisis the structural problems of our economy have become more urgent, he said.Amid a uk canada goose long list of areas of weakness he stressed Canada Goose sale in particular an education system which fails to reward merit, an inadequate welfare system and a huge wealth gap between the rich north and poor south of the country.Draghi, who has an often strained relationship with Economy Minister Giulio canada goose uk black friday Tremonti, also urged reforms to make salary negotiations more flexible, speed up the notoriously slow the canada goose outlet justice system and generally improve public services. https://www.thecanadagooseoutlet.com (Reporting by Paolo Biondi, writing by Gavin Jones; Editing by Dan Grebler).

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