ECB’s Rehn Sees Recent Market Swings as an Overreaction

Recent turbulence in global stock markets was an “overreaction,” according to European Central Bank Governing Council member Olli Rehn.

“My own understanding is that it was an overreaction of market forces in the conditions of uncertainty and thin market liquidity during the holiday season, not so much due to issues arising from the fundamentals of the economy,” Rehn said.