EU economies set for stormy 2013

http://www.euronews.com/ Only a few weeks ago, EU officials were patting each other on the back and declaring that the euro crisis is over.

Now the European Commission's own forecasts published on Friday say the continent's economic woes will continue.

Olli Rehn, the EU's economic commissioner, acknowledged the "disappointing hard data from the end of last year", but claimed that there were encouraging signs in the "growing investor confidence in the future".

Eurocrats in Brussels have crunched the EU's numbers and it is not pretty reading.

Their latest study predicts the eurozone economy will shrink by 0.3 percent this year.

That's revised down from November's outlook, which saw growth of 0.1 percent.

If politicians and bankers think the single currency crisis has been consigned to the history books, try telling that to unemployed people in heavily-indebted EU countries.

Greece has an employment rate of 27 percent, whilst Spain is closed behind with 26.9 percent.

The EU's export-driven economies such as Austria and Germany fare much better.

Yet worries remain about the Netherlands, which is struggling from a consumer spending slump.

One economist says the EU needs to rethink its economic policies.

Hans Martens, chief executive of the European Policy Centre, stresses that Europe has taken the wrong way to recover.

"This is a disaster not only for let's say the European institutions but also for member states because this is a reminder that they have not done enough they have simply not done enough to stimulate growth and jobs," he told euronews.

The question now is whether the Commission will wield its new powers to force member states to take a more disciplined line on public spending.

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  News & Politics

[Attila Mag]

scary how confused these idiot politicians are..

[Jay Stimson]

Time to wake up.

/watch?v=GXcLVDhS8fM

[nucsol]

Bla Bla Bla! Same shit different country. Some day we'll stop listening to these assholes, live in tents, refuse to work and burn all their shit to the ground. They got their yachts, mansions, private islands, private security, private jets and contol of the military industrial complex. What we need to do? Is tell them to shove it all up their ass. They can only be masters if they have puppets and without us to make them rich? They'll feed off of each other like the parasites they are.

[PubWorksTV]

The liberals lie and people just ignore it. THe financial system is a fraud and people need to hold the bankers and the government leaders responsible.

[Bene Sakal]

Germany will be dragged down into desperation.Then you can expect a violent swing to the extreme far right.The signs of this is starting already.Serious decisions will be made that will shock the entire World.Think the inquisition multiplied with modern technology.

[theend1011]

Germany, leave the EU before it brings you down with it.