Spread wide and less volatility in the pre-Lehman levels
The President of the Financial Stability Board Mario Draghi, Governor of the Bank of Italy, at the end of the G7 meeting in Washington, said that his job is not to predict when it will end the crisis, but its task is to analyze the facts.
Draghi said that two months ago had said that the speed of the deterioration of the crisis was slowing and there is no reason to change the assessment.
He pointed out that there are gradual signs of stabilization: the spreads are narrowing and the volatility is returning to pre-Lehman levels.
Draghi said, then, that for the sectors of economic activity must restore credit flows, that is to say the banks enough capital, enough financing capacity and willingness to take risks in return.
A condition for the recovery in the financial sector is transparency, as well as cleaning the balance sheets of toxic assets.
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