Economists in the Middle East believe the euro-zone deal hammered out last week, without British involvement, does not mark the end of the European financial crisis. Volatility and uncertainty could increase in the region in the weeks ahead and harm GCC economies, they say.
On Friday, an EU summit in Brussels agreed on a package of measures to attempt to end the ongoing crisis over high levels of debt in the banking and sovereign sectors.
But Britain vetoed the possibility of a more integrated EU, backed by a new treaty, which many in the financial markets believed essential to end the crisis.
No comments:
Post a Comment