French reinsurance group Scor SE's (SCR.FR) Chief Executive Denis Kessler said governments ran out of monetary and budget tools to boost growth and fend off financial woes, and the current crisis may worsen, according to French business daily Les Echos.

"We ran out of ammunition and we have wasted precious time," Les Echos quotes Kessler as saying in an interview published Monday.

Massive borrowing and monetary creation from governments and central banks didn't have a lasting effect, Kessler says.

Newspaper Web site: http://www.lesechos.fr

-By Paris Bureau, Dow Jones Newswires; 33-1-4017 1740

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