ECB's Liikanen Sees Markets Back to Pre-Lehman Levels After Deleveraging Period

(CEP News) Frankfurt - Markets will return to levels seen prior to the Lehman Brothers collapse after banks clean up their balance sheets, European Central Bank Governing Council member Erkki Liikanen said.
"Deleveraging will continue for a year or two," Liikanen said in a speech delivered in Helsinki on Tuesday, Finnish financial news site Taloussanomat.fi reported. "After the deleveraging period, markets will return to a pre-Lehman level, but not likely to the levels seen before the financial crisis."

On Sept. 13, global financial services firm Lehman Brothers filed for Chapter 11 bankruptcy protection due to substantial losses suffered during the subprime mortgage crisis.
Lehman's collapse is widely viewed as the point where the financial turmoil became a full-blown crisis.


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