"The good news is that the crisis is over"

This was stated by head of Morgan Stanley, John Mack. He noted also ended fears that conditioned the financial world

The global economic crisis is over but the risks still remain, said the outgoing chief executive of Morgan Stanley.

"The good news is that I believe that the economic fears, the crisis ended," said John Mack at a conference of investors in the Russian resort of Sochi, Black Sea.

"We still have problems, yes, but the attention of governments and regulators around the world clearly avoided what could have been the demise of the financial system," he added.