Spillover risk from crisis downplayed | Bangkok Post: business

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Spillover risk from crisis downplayed

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While Europe is likely to still slip into recession, various measures taken by eurozone leaders to address the debt crisis has reduced spillover risks, says Jens Sondergaard, an economist based in London. 

Mr Sondergaard, a former executive director of Nomura International, said the European Central Bank's (ECB) move to purchase short-term government bonds has helped reduce the risk of a further deterioration in the eurozone crisis.

The European Stability Mechanism, established earlier this year with 500 billion (19.9 trillion baht) in funds to offer financial assistance to cash-strapped countries and banks, should also help ease stress within the region.

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