Europe's Woes Have Minimal Impact On Asia, Says German Academician

KUALA LUMPUR, Feb 14 (Bernama) -- The lagging growth in Europe as a result of its debt crisis has minimal impact on Asia, says Professor Dr. Hubert Zimmermann of Philipps-Universitaet, Germany. "The overall impact is relatively limited," Zimmermann said at a conference titled "The Political Economy of the EU Sovereign Debt Crisis” here, Tuesday. He said there were less imports from Asia to Europe due to the Eurozone crisis. "If the Euro currency crashes, there will be little impact on Asia. They (Asia) will trade in other currencies. Asia can trade with other countries." The conference was organised by the University of Nottingham Malaysia Campus in cooperation with the EU Malaysia Chamber of Commerce and Industry. It was hosted to address the debt crisis faced by the Eurozone, said to be the greatest challenge to date for the European Union. Another speaker, Christopher Napoli, who is Assistant Professor from The School of Politics, History and International Relations, The University of Nottingham Malaysia Campus, said the conference was timely following the refinancing of Greek debt with the help from Eurozone members. -- BERNAMA