Leaders threaten green shoots

Reform of the global financial system has become bogged down as fears subside over its potential collapse, however policymakers relaxing now threatens recovery, a leading European Central Bank (ECB) official said. ECB executive board member Jose Manuel Gonzalez-Paramo said some European Union countries could see a return to growth from mid-2010. “We should not distract ourselves with talk of green shoots because these will only be consolidated with reforms,” he said.