Oliver Wyman: pre-crisis performance of the world economy are not expected until 2012
Most of the world"s largest financiers of the respondents consulting company Oliver Wyman does not expect the return of the global economy to pre-crisis indicators until 2012, while a third of respondents predicted a recession for a second W-shaped model. Such data are in the 13 th annual report on the state of the financial industry, prepared by Oliver Wyman.
Among the main obstacles to the expansion of economic experts called the cessation of support to central banks the banking sector, the possible write-offs of investments in financial companies, soaring inflation, low interest rates, as well as defaults in certain countries.
The paper notes that currently the majority of financial institutions undergo a phase of "rehabilitation". Central banks still provide favorable conditions for growth of capital, and the legislative branch of government delays the introduction of new regulatory obligations to stabilize the banking sector.
At the moment financial firms returned 57% loss of market value, but their long-term prospects remain uncertain, given that there is now a "massive transfusion (70%) of debt in the state structures. Stable development of the companies are still largely depends on the legal framework and the state of the real sector.
average expectation of long-term growth of companies surveyed by the financiers of 8% vs. 12% pre-crisis.
In the study, Oliver Wyman interviewed 70 heads of financial companies worldwide, including banks and insurance agencies.
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