Scor CEO: Governments, Central Banks Ran Out Of Ammunition -Report
September 12 2011 - 4:47AM
Dow Jones News
French reinsurance group Scor SE's (SCR.FR) Chief Executive
Denis Kessler said governments ran out of monetary and budget tools
to boost growth and fend off financial woes, and the current crisis
may worsen, according to French business daily Les Echos.
"We ran out of ammunition and we have wasted precious time," Les
Echos quotes Kessler as saying in an interview published
Monday.
Massive borrowing and monetary creation from governments and
central banks didn't have a lasting effect, Kessler says.
Newspaper Web site: http://www.lesechos.fr
-By Paris Bureau, Dow Jones Newswires; 33-1-4017 1740
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