Steel magnate Mr Lakshmi Mittal said that Europe’s economy is going to remain troubled.

The comments by the chairman and CEO of ArcelorMittal came during an Associated Press interview today. He did not discuss the fortunes of his company, which is set to release its earnings later this week.

One of the Britain’s richest men, Mr 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.

He 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.”

Mr Mittal was upbeat, though, about the fortunes of east London, where much of the upcoming Olympics is being staged.

(This article was published on July 24, 2012)
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