BOE's Fisher Says Debt Crisis an Obstacle to Financial Recovery

Bank of England policy maker Paul Fisher said global financial markets still require “healing” and that Europe’s debt crisis may be an obstacle to their recovery.

The progress made by financial markets since the crisis and the recession “is encouraging in terms of financial stability and support for the real economy, but further healing is still required,” Fisher said in a speech delivered yesterday and released today by the central bank in London. “Looking ahead, there are some clear obstacles to that process. The sovereign debt crisis, currently focused on the euro area, is one.”