ECB's Honohan Says Europe Is Experiencing `Slow' Recovery, Reuters Reports

Europe’s economic recovery is still “rather slow,” Irish Central Bank Governor Patrick Honohan said in an interview with Reuters.

“The story is a rather slow recovery despite the rather encouraging news from Germany,” he said. He said he saw few signs of “excesses” emerging in asset prices.

“I don’t see that at the moment, but that I think is something that will be in the back of everybody’s mind in the months ahead,” he said.

He said that Ireland’s government is committed to reducing its fiscal deficit to 3 percent of gross domestic product by 2014. He said a bailout for Anglo Irish Bank Corp. is not a “game-changer” for the deficit.

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