Economic Recovery Still Fragile Says ECB's Provopoulos

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The global economic recovery is still fragile and extraordinary support measures are still needed, European Central Bank Governing Council member and Bank of Greece Governor George Provopoulos said on Tuesday.

"There are signs of recovery in the global economy but significant risks remain," said Provopoulos at a briefing of the Greek parliament's economic and monetary affairs committee in Athens. "The positive signs are mostly due to the extraordinary policy measures taken, which continue to be necessary."

"Recovery up to now remains slow and fragile, its duration and steadiness are not a given and unemployment is rising."

At the same time, Provopoulos addressed the need to devise a proper exit strategy from emergency measures, which will be implemented once recovery is sustainable.

"To shield macroeconomic stability, it is necessary to outline from now the proper exit strategy from the extraordinary measures, to be implemented when recovery conditions become solid," he said.

The global economic recovery is still fragile and extraordinary support measures are still needed, European Central Bank Governing Council member and Bank of Greece Governor George Provopoulos said on Tuesday. (Market News Provided by RTTNews)