France Economy Minister Lagarde says U.S. real estate, banks still troubled
The U.S. economy has not yet recovered from the financial crisis and its banking and real estate sectors still face difficulties, French Economy Minister Christine Lagarde said on Monday. Lagarde said France was downgrading its 2008 growth forecast partly because it had underestimated the impact of the U.S. crisis, and that it would now follow developments there closely. "American banks, especially regional banks, will again see difficulty in the weeks and months ahead," she told France Culture radio.
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