Mexico will weather the European crisis

Mexico City.- If Greece suspends payments or leaves Eurozone, there is no doubt it would mean a shock for the whole global system, causing turbulence that would affect every country, including Mexico. “But I am confident Mexico could weather this shock successfully”, Pier Carlo Padoan affirmed. In an interview, Mr. Padoan, Deputy Secretary of the Organization for Economic Cooperation and Development (OECD) and Chief Economist as well, acknowledged, “The risk of Greece leaving Eurozone is much higher than six months ago, and this would not only have negative consequences at Eurozone but it would not solve problems”. “In a broader scenario, there should be certain turbulence arriving to Mexico if there is a default by any of the countries from the Eurozone. But I am confident that Mexico will easily overcome this situation. I think that Mexican economy is strong and I believe their main sources of concern come more from the USA than from Europe”, he said.