ECB paper: global finance has little impact on Mediterranean
Changes in the real global economy have most impacted the Mediterranean economies, not changes in the banking or financial sector, a paper published by the European Central Bank in August shows.
The research notes that the region saw growth slow considerably in 2009, but is projected to recover moderately in 2010. This was attributed to negligible US mortgage-market exposure and limited reliance on external sources of funding.
Out of the ten countries research, only one of their central banks -
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