FT: Head of European companies believe that too early to relax

Head of European companies, despite the positive official statistics, in no hurry to talk about the end of the economic crisis. Interviewed by the Financial Times business leaders of the various branches of the European economy continues to express concern about the state of the economy the euro zone and no signs of recovery.

"In most sectors there is excess capacity, which arose due to huge growth, low-cost debt. If we put together the growing unemployment and excess capacity, does not lie heavily on volume, margins and indices of business activity?" - Says the head of the Italian industrial conglomerate CIR Rodolfo De Benedetti.

The publication notes that amid expectations of strong third quarter performance throughout the world, top managers in the United States and Britain set up a much more optimistic about their European colleagues. In part, the pessimism associated with expectations that the lack of flexibility in Europe would lead to a delayed exit from recession. According to Dominic Seneca, head of private investment fund Axa Private Equity, even if the growth will show one or two quarters, most sectors of the economy will continue to experience a drop in profitability this year.

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