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Economy Will Take Long Time to Recover, ECB’s Kranjec Tells Delo

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Oct. 13 (Bloomberg) -- The global economy will take a long time to recover, Marko Kranjec, governing council member of the European Central Bank, said in an interview with Slovenian newspaper Delo.

“The recovery will last a long time and as a warning we can take the long-lasting recession in Japan,” the Ljubljana-based newspaper quoted Kranjec as saying.

“With the standard of living and wages we have we cannot compete with less developed countries,” said Kranjec, who is also the Governor of Slovenia’s central bank. “I am, maybe because I belong to the older generation, a pessimist on the recovery.”

To contact the reporter on this story: Boris Cerni in Ljubljana at bcerni@bloomberg.net

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net

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