EU crisis to be over by 2012:Swedish Minister

Leaders from the Eurozone are meeting on October 23 to discuss further aid for the troubled Greek economy. When asked how long does he expect the Eurozone to continue to be under pressure and if there are any chances of coming out of the crisis soon, Bildt replied in the affirmative and said the problems should end by mid-2012, though Greece will continue to be weak.

"Clearly, Greece will go through a difficult phase that will last for quite some time. As for the overall situation (in the Eurozone), we will see a gradual improvement the next year. I am quite certain of that," the visiting Swedish minister said.

Asked about his meeting with Gokarn and what was on agenda, Bildt refused to divulge details saying they discussed the "global situation". Gokarn declined to speak to the waiting reporters.