PM Najib Confident Malaysia Will Be Protected From Euro zone Crisis

KUALA LUMPUR, July 14 (Bernama) -- The Prime Minister Saturday expressed his confidence that Malaysia would be protected from the effects of the European Union's debt crisis. Najib Razak attributed his confidence to Malaysia's fundamentally stable economy which could support its growth. "Malaysia's fundamentally stable economy supports its growth. Our country will be protected from the Eurozone crisis," said Najib, who is also Finance Minister, on Twitter Saturday. On Friday, Bank Negara Malaysia (Malaysia's central bank) governor Zeti Akhtar Aziz said Malaysia's financial institution's were strong enough to face the impact of Europe's debt crisis following revelations that the European banks' exposure was estimated at less than five percent of the zone's Gross Domestic Product. She said this in denying a Nomura International Ltd report last Wednesday which stated that Malaysia was among the most exposed Asian country to European banks, making it vulnerable to any economic collapse there. -- BERNAMA