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Los Cabos, Baja California.- In an interview during the G20 Leaders Summit being held at Los Cabos, Mexico, the former Governor of Mexico’s Central Bank, Guillermo Ortiz, cleared out that Mexico is obviously affected by the crisis in Europe.
This is mainly due to the fact that exports from the United States to the Old Continent have slowed-down, and this affects Mexico as well, Mr. Ortiz explained.
Mr. Ortiz, who is now Chairman of the Board of Banorte Financial Group, said: “Mexico has undoubtedly a good position in macro-economics and competitiveness, so I think this problem, which most surely will not end this year, will be overcome”.
He said that Europe is experiencing a recession, and even if it is not expected to be very deep and next year there should be a rebound, the real problem is inequality at the region.