Europeans are waiting to see how bad it will get, Bova says.

Pasquale Bova:    Well, first of all, of course, many in Europe are worried because they are thinking when the crisis will arrive in Europe.  We live in a globalized economy and there’s no phenomenon that stays in one single country.  Everything gets spread around the world from Europe to China, from India to Russia, etc, etc.  Everybody still looking what’s going on, what’s going to happen. Of course, liquidity has been important.  

We expect liquidity to be more available.  I mean, the big input of liquidity in the markets. But basically, I believe that Europeans are kind of fearful of what’s going on but still don’t know what to expect from it.

Recorded: September 24, 2008