Sunday, 24 March 2013

Economy News Headlines - Yahoo! News: ECB's Nowotny says expects no Cyprus contagion risk: paper

Economy News Headlines - Yahoo! News
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ECB's Nowotny says expects no Cyprus contagion risk: paper
Mar 24th 2013, 09:14

VIENNA (Reuters) - European Central Bank policymaker Ewald Nowotny does not expect euro zone member Cyprus's economic woes to spread, he told a newspaper. He said Cyprus was a "special case" due to its outsized financial sector fuelled by foreign investors, in an interview with Austrian paper Oesterreich conducted on Tuesday and published on Sunday. "This system is certainly no longer able to continue," said Nowotny, the head of Austria's central bank. ...

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