However economist Ken Wattret of BNP Paribas was more optimistic about the figures.

FORBES

Ken Wattret, senior economist at Paribas, told BBC's World Business Report that he feared there was a lot of downside economic risk in the eurozone at the moment.

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"Eastern Europe is in the throes of a very deep downturn, and European banks are still exposed to them, even if the loan losses are related to deep recession rather than to a crisis, as was feared six months ago, " says Ken Wattret, Europe economist at BNP Paribas in London.

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