Financial markets functioning better in euro zone -ECB's Mersch

FRANKFURT Fri Nov 29, 2013 4:18am EST

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FRANKFURT Nov 29 (Reuters) - Financial markets are functioning much better now than in past years, European Central Bank Executive Board member Yves Mersch said on Friday.

"We see that fragmentation in financial markets has come down significantly, deposits have grown," Mersch said in a speech at the Goethe University Frankfurt.

Bank loans to firms are still weak, Mersch said, and he added that loans are usually one of the last indicators to pick up after a recession. (Reporting by Sakari Suoninen)

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