YEREVAN. - There can be no doubt that the crisis in Europe is really serious and it is pointless to wait for miracles or perfect solutions, the vice-president of the European Bank for Reconstruction and Development (EBRD) Ian Fisher announced in Yerevan. According to him, the politicians try to find a solution which will just be better than the previous bad ones.

“Europe will be in a nightmare if the crisis passes from Greece to larger states like Italy, Portugal and Spain,” Fisher stressed.

He advised the Armenian government to be especially careful in the fiscal policy, because compared to other countries Armenia’s bank system is relatively healthy.