Arab Today, arab today eu economy to shrink again in 2013
Last Updated : GMT 01:12:41
Arab Today, arab today
Arab Today, arab today

EU: Economy to shrink again in 2013

Arab Today, arab today

Arab Today, arab today EU: Economy to shrink again in 2013

Beijing - XINHUA

The EU says the eurozone economy of the 17 member countries will shrink again in 2013, even though its fortunes will improve in the second half of the year. The backdrop for the announcement was perhaps a little optimistic. Rather than overcoming headwinds, the euro zone’s about to be blown further into recession. EU Commission Olli Rehn’s winter forecast gave some chilling news. Olli Rehn, EU Economic and Monetary Affairs Commissioner, said \"Our projection for this year is that there will be zero growth in the European Union as a whole and minus 0.3 percent GDP growth in the euro area.\" The EU had predicted growth of 0.1% this year. But it now admits the recession will drag on, for at least another year. The Commission blames the lack of bank lending. As well as record unemployment And the number of jobless is expected to get even higher this year, hitting over 19 million. Despite the bad news, ECB board member Joerg Asmussen says the central bank won’t be easing policy. Joerg Asmussen, ECB board member, said \"There are a number of outstanding economic challenges in the euro area but they cannot be tackled by monetary policy. It is up to governments to do this and I think our stance is appropriate as it is.\" But peripheral euro zone economies like Spain are suffering. Its deficit was over a tenth of economic output last year - way above its 6.3% target. The problem’s also hitting the core - France is another that overshot deficit limits. Further evidence the bloc’s second biggest economy is on the slide. In this week’s PMI index, France slumped to its lowest level in 4 years - showing a services and manufacturing sector in serious trouble. One bright spot is Germany. This week the country’s Bundesbank forecast growth would return by April. But at this rate, it’ll be on its own.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today eu economy to shrink again in 2013 Arab Today, arab today eu economy to shrink again in 2013

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today eu economy to shrink again in 2013 Arab Today, arab today eu economy to shrink again in 2013

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today unveils Joon - the 'millenials' airline

GMT 13:36 2017 Saturday ,23 September

unveils Joon - the 'millenials' airline
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Iran tests new medium-range missile

GMT 21:24 2017 Saturday ,23 September

Iran tests new medium-range missile
Arab Today, arab today Saudi Arabia to unblock internet calling apps

GMT 11:31 2017 Wednesday ,20 September

Saudi Arabia to unblock internet calling apps
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today All eyes on May as she prepares

GMT 10:16 2017 Friday ,22 September

All eyes on May as she prepares
Arab Today, arab today Big Western brands polluting oceans

GMT 20:10 2017 Saturday ,23 September

Big Western brands polluting oceans
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Carmakers face billions in European

GMT 12:37 2017 Saturday ,23 September

Carmakers face billions in European
Arab Today, arab today Mercedes pumps 1 bln euros    

GMT 06:04 2017 Friday ,22 September

Mercedes pumps 1 bln euros    
Arab Today, arab today Lebleba is preoccupied in filming 'Back Street'

GMT 08:56 2017 Thursday ,21 September

Lebleba is preoccupied in filming 'Back Street'
Arab Today, arab today Puerto Rico, Virgin Islands brace

GMT 12:01 2017 Wednesday ,20 September

Puerto Rico, Virgin Islands brace

GMT 08:59 2017 Wednesday ,20 September

Youssra prepares for launching her program

GMT 18:09 2017 Thursday ,21 September

China lifts 10-year travel ban

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 06:21 2017 Wednesday ,20 September

France hopeful of persuading Trump

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 08:39 2017 Friday ,22 September

New Hurdles as Republicans Rush

GMT 06:49 2017 Friday ,22 September

O'Leary: Could ground more planes

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:46 2017 Thursday ,21 September

Google likely to buy stake in Taiwan smartphone maker HTC

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday