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BBVA chief says worst is over on Europe debt crisis

Source: Reuters - Wed 14th Dec 2011

The head of Spain's second largest bank BBVA said on Wednesday that the worst had passed for the European debt crisis, adding there would be no problems implementing measures agreed on at the recent EU summit.

Up to 26 European Union countries will finalize a pact to enforce stricter budgetary discipline in the euro zone by March, a top official said on Tuesday, as the bloc tries to move quickly to restore confidence but without Britain's backing.

"My view is... the UK will come back to the negotiation table and will agree to a new European package," BBVA chairman Francisco Gonzalez told a press conference in Seoul.