Policymakers, experts see eurozone uncertainties remain high

Anxiety lingering over a possible global recession seems to be easing, but uncertainties surrounding the eurozone debt problems still remain high, government officials and private-sector experts here said Wednesday. The assessment was presented during a monthly meeting held in central Seoul between the government's key financial policymakers and experts in the private sector. The results of the meeting were unveiled by the finance ministry. "Participants feel that anxiety over a possible double-dip recession in the United States and the worldwide economy is easing at a time when volatility in the financial markets at home and abroad is declining," the ministry said in a press release. "With regard to polices for the eurozone fiscal debt crisis, however, they shared the view that uncertainties still remain high," the ministry added. The high level of uncertainties are based on the cancellation of a meeting supposed to be held among eurozone finance ministers on Tuesday, which dimmed chances for an immediate resolution to the fiscal debt crisis in Europe, the ministry noted. But majority opinions were that chances are not quite high that the eurozone woes will not spiral out of control in the foreseeable future, it added. The meeting was held in order for the government to listen to opinions of the private sector regarding the latest economic situations. Finance Minister Bahk Jae-wan attended the closed-door gathering along with others, including the Bank of Korea's senior deputy governor Lee Ju-yeol and officials from major financial institutions, according to the ministry.