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“Stark” Reality: Euro Has More Pain Ahead

CANNES-Jurgen Stark, ex-member of the European Central Bank Executive board, tells a MIPIM audience that the worst is behind . . . but there's more pain ahead.

By John Salustri | Updated on March 14, 2013

CANNES-The start of reforms is in place to turn the European economy and banking crisis around. But that doesn’t mean there won’t be more pain ahead. That was the assessment of Jurgen Stark, a member of the European Central Bank Executive Board from 2006 to 2011, in comments he made at MIPIM here Thursday morning.

The good news is that the economy has bottomed out, and Stark sees a growing GDP, starting with export demand and eventually spreading to investment. As he puts it, “the markets have calmed down.”

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