ECB's Tumpel-Gugerell: crisis impacting economy
The eurozone is experiencing a severe financial crisis that has begun to impact the real economy, said Gertrude Tumpel-Gugerell, a member of the European Central Bank's executive board.
Tumpel-Gugerell said that this crisis had started to show substantial spillover effects to the real economy in the euro area. She also said that European policy-makers had lived up to their responsibilities and acted in a swift and concerted matter.
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