Slow grind back for Europe
2012-05-14
The European Commission has just completed its spring economic forecast, which has suggested the eurozone should make a slow recovery from recession later this year.
The EU's Economic Affairs department has expressed optimism for the entire 17-nation eurozone, even with the likelihood that Spain and France will not be able to meet deficit reduction targets.
Spain is forecast to be the only eurozone nation in recession in 2013.
The latest economic forecast says the bloc will to shrink by 0.3 percent this year and grow by 1.0 percent next year.
It has also been suggested that while overall unemployment will stay at a record high 11 percent this year and next, it will be harder for some individual member states.
Source: Europe News.Net
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