Recent steps by European policymakers have helped restore investor confidence but the financial crisis in the eurozone has given way to an economic slowdown, the chief executive of France's largest publicly listed bank, BNP Paribas, said yesterday.

"The systemic part of the euro zone crisis is behind us," said Jean-Laurent Bonnafe in an interview. "Europe has taken decisive action over the past few weeks, and the economic reforms implemented in Italy to balance its public finances have proved very efficient."