Sound banking system and macroeconomics in Mexico: experts
Mexico City.- Mexico has sound macroeconomics and a solid banking system, which will allow it face any blow from the European crisis, specialists and authorities from the financial and stock market sectors affirmed.
They acknowledged that global volatility continues and that the impact will depend on the time and way problems are solved, mainly regarding the crisis in Greece, even if they ruled out this could collapse Europe’s financial system.
In a round table organized by CFA Program (certification for professionals in investment), Luis Tellez emphasized that both the Mexican economy and banks here are sound, thanks to the fact that Mexico has had consistent economic policies in the last years. He reminded that in the 1995 crisis Mexico, in coordination with the US Government and the International Monetary Fund, in a month had already implemented solutions, while in Europe it has been three years and they have not reached a final agreement.
Source: El Economista | Date: 31/05/2012