(Bloomberg) — Markets are overreacting to the threat of the rapidly spreading coronavirus and the global economy will only see a short-term impact, said the head of Allianz SE, Europe’s biggest insurer.Chief Executive Officer Oliver Baete said the firm was more concerned about the safety of its clients than any impact to its business, in an interview with Bloomberg Television’s Anna Edwards in London. He compared the virus with a “strong flu,” saying it hadn’t yet become a pandemic.“There’s a lot of panic at that moment that’s not warranted,” said Baete. “Short-term economic activity will contract and it will have …read more
Source:: Yahoo Finance
