Christian Noyer, Governor of the Banque de France (BDF) and member of the Governing Council of the European Central Bank (ECB), said Wednesday he did not hold to the basic scenario of an economic recession for France.
At a press conference in Singapore, he added that the fiscal measures taken by France were sufficient and the exposure of French banks to Greece quite manageable.
At the euro area, Christian Noyer said that the level of sovereign bond yields did not reflect reality, the day after an auction of Italian bonds where yields reached nearly 8%.
Inflation in the euro zone will return to the objective of the ECB in the next few months, also said the board member of the institution in Frankfurt, adding that all that was necessary would be done to avoid deflation or fight against inflation.