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Recent improvements in economic indicators are showing only green shoots of recovery, while there remain considerable downside risks, European Central Bank governing council member Axel Weber said Tuesday.
Speaking to the International Monetary Fund's board of governors at the IMF-World Bank Annual Meetings 2009 in Istanbul, Weber, who also heads Bundesbank, said until the global economic recovery becomes self-sustaining, there is a need to continue policy stimulus, which are currently in place.
He stated that if the world economy of the future is to enjoy macroeconomic stability and sustainable public finances, these policy measures must be unwound in due time.
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