Business leaders of various branches of European industry, interviewed The Financial Times, expressed caution, saying the restoration of the economy, and reported that no signs of recovery.
Rodolfo De Benedetti, executive director of the Italian industrial conglomerate CIR, said that professes a cautious approach in business management
In most sectors there is excess capacity, which Builded due to huge growth, low-cost debt. If we put together the growing unemployment and огромніÐ¹ избіÑ‚ок capacity, is not it will fall heavily on volume, profit and performance of business activity? — he said.
Benoit Potier, director general of the French manufacturer of industrial gases, Air Liquide, expressed equally cautious.
The financial crisis was really heavy, so I think we're a little more cautious than we were before, and to reinvest, which I consider a real test for managers. We will wait until we see that consumption will return to the previous level , - said Potier.
amid expectations of strong indicators of III quarter of the world, top managers in the United States and Britain set up a much more optimistic about their European colleagues. In part, the pessimism associated with expectations that the lack of flexibility in Europe would lead to a delayed exit from recession. According to Dominic Seneca, head of private investment fund Axa Private Equity, even if the growth will show one or two quarters, most sectors of the economy will continue to experience a drop in profitability this year.
recall, the ECB has improved the economic outlook for 2009-2010: projections of the ECB, Eurozone GDP for the year will decrease by about 4.1%, and the next will grow by 0,2%.
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