The Eurozone is grinding to a halt

Will Longbottom
Daily Mail
September 15, 2011

The EU Commission today warned that economic growth in the eurozone will come to a near standstill by the end of the year due to the European debt crisis and turmoil in the financial markets.

In its latest economic forecast, the commission said the financial gloom is likely to persist until spring next year, but it would not result in a double dip recession.

Economic growth in the 17 euro countries will be only 0.1 per cent in the fourth quarter – down from 0.2 per cent in the third.

For the second half as a whole, the commission said it had revised down its prediction from its spring forecast by half a percentage point.

The worsening debt crisis and financial market volatility has dampened economic activity says the forecast.

Olli Rehn, the EU’s economic and monetary affairs commissioner, said: ‘The outlook for the European economy has deteriorated.

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One Response to “The Eurozone is grinding to a halt”

  1. The Fed and European Central Bank along with Asia have today infused massive amounts of dollars into the major European Banks. More cash infusion while tons of toxic paper still sit there and most of the Eurozone is quaking. The banks are being shored up by a globalist plan. What else is new? Europe is not doing well at all.

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