The weak state of the American and European economies remains a risk to the global economy despite evidence of a recovery over the past year, a Reserve Bank official said today. While the US had successfully stress-tested 19 of its largest banks in May, second-tier banks with heavy regional exposure to commercial property pose a threat to financial markets, RBA assistant governor Guy Debelle said in a Sydney speech. Similar risks exist for European banks.
US, Europe remain threat to recovery: RBA
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