News Summary: EU sees Eurozone recession worsening

Associated Press

SLOWING GROWTH: The European Commission revised down its forecast for the 27-country region's gross domestic product, which it now expects to grow by just 0.4 percent in 2013, compared with expectations this spring of 1.3 percent growth.

CHUGGING ALONG: The commission had previously expected the bloc of 17 countries that use the euro to find its footing next year, with 1 percent growth. Now it predicts only a 0.1 percent uptick.

AUSTERITY: Countries that use the euro have slashed spending and promised to keep their deficits in check as well as vowing to protect their banks better by improving regulation.

Sorry you didn't like this comment. Please provide a reason below.

Are you sure?
Rating failed. Try again.
Request failed. Try again.
We will promote constructive and witty comments to the top, so everyone sees them!
Sorry, we can’t load comments right now. Try again.

    Recommended for You