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Lakshmi Mittal pessimistic on Europe's economy

Last Updated: Tuesday, July 24, 2012 - 09:07

Zeebiz Bureau

London: Expressing lack of optimism over Europe's economy, Lakshmi Mittal, Chairman and CEO of ArcelorMittal said that the economy of Europe is going to remain troubled.

In an interview with Associated Press, the steel mogul said, "Things are difficult, and they are going to remain difficult. We have a lot of uncertainties, we have volatility, and people are not confident about the future of Europe at this time."

He did not talk about the fortunes of his company, which is set to release its earnings later this week.

One of Britain's richest men, Mittal's lack of enthusiasm can be seen as bleak for the economic outlook of the continent, since steel is such a vital component of construction.

Mital, however, was upbeat about the fortunes of east London, where much of the upcoming Olympics is being staged.

With Agency Inputs

First Published: Tuesday, July 24, 2012 - 09:07
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