Ghosn says financial crisis 'is clearly behind us'
09-09-09, 05:29 PM
#1
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Ghosn says financial crisis 'is clearly behind us'
http://www.autonews.com/article/2009...309099948/1193
Ghosn says financial crisis 'is clearly behind us'
September 9, 2009 - 12:01 am ET
UPDATED: 9/9/09 1:22 p.m. ET
PARIS (Reuters) -- Carlos Ghosn, the CEO Renault SA and Nissan Motor Co., says "the financial crisis is clearly behind us," but added that the recovery would be gradual and take several years.
Banking activity is returning to normal, it is possible to borrow at more favorable interest rates, people are beginning to invest again and stock markets are rising, Ghosn told Le Figaro newspaper in an interview.
Ghosn said there were encouraging signs that the period of recession was more or less over in a number of markets but cautioned that there would not be a strong rebound in the immediate future.
"We should first see a pickup in the United States and in emerging countries in the first quarter of 2010," Ghosn told the newspaper.
An improvement in Europe will come "at the end of 2010 or the start of 2011," he said, adding that Japan would follow.
Europe "should be at about the level of 2009 or slightly better" next year, Ghosn added.
Ghosn says financial crisis 'is clearly behind us'
September 9, 2009 - 12:01 am ET
UPDATED: 9/9/09 1:22 p.m. ET
PARIS (Reuters) -- Carlos Ghosn, the CEO Renault SA and Nissan Motor Co., says "the financial crisis is clearly behind us," but added that the recovery would be gradual and take several years.
Banking activity is returning to normal, it is possible to borrow at more favorable interest rates, people are beginning to invest again and stock markets are rising, Ghosn told Le Figaro newspaper in an interview.
Ghosn said there were encouraging signs that the period of recession was more or less over in a number of markets but cautioned that there would not be a strong rebound in the immediate future.
"We should first see a pickup in the United States and in emerging countries in the first quarter of 2010," Ghosn told the newspaper.
An improvement in Europe will come "at the end of 2010 or the start of 2011," he said, adding that Japan would follow.
Europe "should be at about the level of 2009 or slightly better" next year, Ghosn added.
09-11-09, 09:20 AM
#4
Lexus Fanatic
only words of encouragement will get SOME people to borrow and spend money to stimulate the economy.
with bank interest rates still dropping, it doesn't look like banks have much confidence in investing our money.
he should've said 'the worst is over. but we're still in the s***ter."
with bank interest rates still dropping, it doesn't look like banks have much confidence in investing our money.
he should've said 'the worst is over. but we're still in the s***ter."
09-11-09, 09:36 AM
#5
Lexus Fanatic
Ghosn said there were encouraging signs that the period of recession was more or less over in a number of markets but cautioned that there would not be a strong rebound in the immediate future.
[B]
"We should first see a pickup in the United States and in emerging countries in the first quarter of 2010," Ghosn told the newspaper.
[B]
"We should first see a pickup in the United States and in emerging countries in the first quarter of 2010," Ghosn told the newspaper.
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09-11-09, 10:46 AM
#8
Pretty bold to think the market will turn around in Q1 2010 IMO. Who knows though, maybe he's right? If you look at the stock market in a purely fundamental sense, I guess you can say things are turning around but I think it will still be a ways off before people begin to spend again like they had before this recession whatever you want to call it.
09-11-09, 04:19 PM
#13
Lexus Test Driver
Last I heard unemployment is up, more banks are closing, and we're printing money like no tomorrow. Doesn't sounds like the worst is behind us.. this feels more like the calm before the storm.
09-11-09, 05:57 PM
#15
Lexus Champion
I'd like some of whatever this moron is smoking.
Clearly shouldn't be in the position he is if this is his outlook. I'd be completely petrified if I worked for him with this perspective.
Clearly shouldn't be in the position he is if this is his outlook. I'd be completely petrified if I worked for him with this perspective.