Printer Friendly

EURO ECONOMY IN "DANGEROUS TERRITORY" - REPORT.

The European Commission has said the eurozone's economy is in "dangerous territory" with the sovereign debt crisis entering a new "contagious" phase that threatens to cut off market access for solvent governments. "Deep losses of confidence and extreme risk aversion are driving up yields, ipso facto threatening the sustainability of previously manageable debt burdens," said Marco Buti, director-general of the EU's Economic and Financial Affairs Directorate, in the latest quarterly report on the eurozone, published on 13 December. Predicting low growth of 0.5% this year and 1.3% in 2012, the report says that the only way to reverse the trend is to increase workers' productivity by promoting further education, investing in research and innovation and lifting of restrictions on setting up businesses and hiring workers. aThe report is available at ec.europa.eu/economy_finance/publications/qr_euro_area/2011/qrea4_en.htm

COPYRIGHT 2011 Europolitics
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2011 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:European Report
Date:Dec 14, 2011
Words:145
Previous Article:EU ADHERES TO PROTOCOL OF 2002 TO ATHENS CONVENTION.
Next Article:TRADE COUNCIL : EU TO LAUNCH SCOPING EXERCISE WITH S MEDITERRANEAN STATES.

Terms of use | Privacy policy | Copyright © 2019 Farlex, Inc. | Feedback | For webmasters