U.S. Fed official sees Europe's crisis a threat to U.S., world economy

14:55, May 21, 2010      

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Europe's debt crisis may pose a threat to the United States and world economies, said a U.S. Federal Reserve high rank official on Thursday.

"A deeper contraction in Europe associated with sharp financial dislocations would have the potential to stall the recovery of the entire global economy, and this scenario would have far more serious consequences for U.S. trade and economic growth," Daniel Tarullo, a Federal Reserve Governor said in his testimony to U.S. House Financial Services subcommittee.

He said the timing of Europe's problems on the heels of the global financial crisis is a "potentially serious setback."

If the crisis were to crimp lending and the flow of credit globally, triggering more financial turmoil, that would endanger both the U.S. and global recoveries, he said.


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(Editor:黄蓓蓓)

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