Bank customers in Cyprus, which agreed to a 10 billion euro ($13 billion) bailout today, may line up to withdraw money when savings institutions reopen, Holger Schmieding, chief economist at Berenberg Bank, said.
“Europe is probably going to fall into recession in the fourth quarter,” said Holger Schmieding, chief economist at Joh. Berenberg Gossler & Co. in London.
Central bankers once kept money- supply measures atop the list of indicators they monitored when managing the economy.
"The biggest problem for the euro-zone economy at the moment is geopolitical uncertainty and there is not much the ECB can do about that."
- Holger Schmieding on Sep 21, 2014
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