Bloomberg quoted Mr Jim O’Neill head of global economic research at Goldman Sachs as saying that Europe will have the most trouble recovering from the worldwide financial crisis because policy makers are not doing enough to stimulate a recovery.
Mr O’Neill said that "Unfortunately Europe will be last, because it does not have its own engine of growth. There is no reason why Europe should be as vulnerable as it is. We are going to stay in recession for another couple of quarters but I’m starting to see evidence that later this year, particularly in the US and China, things will get better."
Mr Jean Claude Trichet president of European Central bank said that it won"t decide on new non standard measures before its next policy meeting in May 2009.