European Economy will Shrink 4
European economy ‘will shrink 4%’
The economies of the eurozone and the EU will contract by 4% this year and by a further 0.1% in 2010, the European Commission has forecast.
Unemployment is expected to rise to 11.5% in 2010, while inflation will fall well below the European Central Bank’s target this year and next.
Europe is in the middle of its deepest recession since World War II, the Commission said in a statement.
Europe needs to focus on cleaning up banks’ bad assets, it added.
Source:BBC
Bookmark this page:
Sphere: Related Content