Arab Today, arab today eu executive presents bloc\s dire economic outlook
Last Updated : GMT 21:20:40
Arab Today, arab today
Arab Today, arab today

EU executive presents bloc\'s dire economic outlook

Arab Today, arab today

Arab Today, arab today EU executive presents bloc\'s dire economic outlook

London - DW

The European Commission has unveiled its closely watched autumn forecast for the economic development of the 27-member bloc. Good news is few and far between as the debt crisis lingers on. On Wednesday, the EU\'s executive released its autumn forecast looking at the prospects of economic growth in the bloc. It painted a rather bleak picture of developments in the months ahead. The European Commission anounced that it expects the economies in the 17-member eurozone to contract by 0.4 percent this year, before recovering only slightly by 0.1 percent in 2013. In the wider 27-member EU, gross domestic product (GDP) would drop by 0.4 percent this year to be followed by meager 0.3 percent growth in 2013. \"Europe is going through a difficult process of macroeconomic rebalancing which will still last for some time,\" Economy Commissioner Olli Rehn said in Brussels, adding that unemployment in the EU would reach a new peak next year, at a little below 11 percent. The Commission also warned that a number of countries would not be able to live up to their own budget consolidation goals. It predicted that France would only be able to reduce public deficit to 3.5 percent this year instead of the 3 percent targeted. Spain for its part would end the year logging an 8.0 percent deficit instead of the 6.3 percent promised earlier. Germany strong by comparison In a separate report by a panel of advisors to the government in Berlin, German economic pundits on Wednesday warned that there would be no growth in the country in the final quarter, but added that gross domestic product throughout 2012 would expand by 0.8 percent, followed by another 0.8 percent next year. The experts said that inflation in Germany would hover around 2 percent and employment would remain robust. The panel expected only a marginal rise in the number of jobless people, but stated that number would not exceed the psychologically important threshold of 3 million next year. The German group of advisers explicitly criticized the coalition government of Chancellor Angela Merkel for a string of recent social reforms that in their view run counter to the country\'s budget-consolidation targets. Among other things, last weeked the government greenlit an allowance for parents caring for their kids at home and scrapped a quarterly fee for doctor visits. \"Those measure are taking us in the wrong direction,\" the panel wrote in a statement.

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 executive presents bloc\s dire economic outlook Arab Today, arab today eu executive presents bloc\s dire economic outlook

 



Arab Today, arab today
Arab Today, arab today Saudis await visitors but will they come?

GMT 11:54 2017 Thursday ,23 February

Saudis await visitors but will they come?
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today Blind sheikh buried in Egypt

GMT 06:32 2017 Thursday ,23 February

Blind sheikh buried in Egypt
Arab Today, arab today Media host Mona Iraqi stresses her show's success

GMT 15:32 2017 Wednesday ,22 February

Media host Mona Iraqi stresses her show's success

GMT 16:32 2017 Wednesday ,22 February

US Treasury chief tells IMF to monitor currencies

GMT 16:08 2017 Wednesday ,22 February

Qatari banks merger to rebalance financial sector

GMT 05:57 2017 Wednesday ,22 February

Britain risks clash with EU over RBS bailout

GMT 05:26 2017 Wednesday ,22 February

Singapore carbon tax would hit refiners, help renewables

GMT 05:18 2017 Wednesday ,22 February

Chinese PM: US should avoid ‘trade war,’

GMT 20:59 2017 Tuesday ,21 February

Economy good, but homes in German cities overpriced

GMT 05:29 2017 Tuesday ,21 February

Sovereign funds pulled $38bn from markets in 2016
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today To hold social dialogue over secondary school

GMT 07:43 2017 Wednesday ,22 February

To hold social dialogue over secondary school
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Salma Rashid happy for 'A Whisper of Love'

GMT 05:19 2017 Tuesday ,21 February

Salma Rashid happy for 'A Whisper of Love'
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 06:41 2017 Monday ,20 February

Janat pleased for issuing 'Good Morning'

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 14:29 2017 Monday ,20 February

Prepares to present her new collection

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 07:51 2017 Wednesday ,22 February

Mom's immune system accepts babies

GMT 17:46 2017 Saturday ,18 February

Tourist guide reveals methods of tourist attractions

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women
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