News / Europe

Statistics Show Stuttering 2013 European Recovery

Olli Rehn addressing media at the European Commission headquarters in Brussels, Feb. 22, 2013.
Olli Rehn addressing media at the European Commission headquarters in Brussels, Feb. 22, 2013.
Lisa Bryant
The latest Brussels economic forecast indicates Europe is not yet out of its economic troubles.
 
The European Commission delivered statistics on Friday that predict growth for the 27-member European Union at only 0.1 percent — down from its previous forecast of 0.4 percent — but that the outlook for the 17-member currency union, the eurozone, has been revised downwards. The EU's executive arm says the currency union will contract by 0.3 percent in 2013, compared to its earlier estimate of a small, 0.1 percent growth.
 
"The current situation can be summarized like this: We have disappointing hard data from the end of last year, some more encouraging softer data from the recent past, and growing investor confidence in the future," said Olli Rehn, European Commissioner for Economic and Monetary Affairs and the Euro, and the commission's vice president.

"The decisive policy action undertaken recently is paving the road to recovery," he added, explaining that Europe's economic reforms are working. "We must stay the course of reform and avoid any loss of momentum which could undermine the turnaround in confidence that is now underway, delaying the needed upswing in growth and job creation."
 
While not surprising, some of the more disappointing data came from France. Europe's second largest economy is expected to grow only 0.1 this year, while unemployment is forecast to reach 10.7 percent.
 
As expected, the commission predicted France's Socialist government will miss the EU's 3 percent deficit target, reaching an expected 3.7 percent this year and 3.9 percent in 2014.
 
French Prime Minister Jean-Marc Ayrault has rejected more austerity measures. Either way, the government's policies have sparked criticism from both conservatives and the far left.
 
Far left French politician Jean-Luc Melenchon told French Radio that the government had fallen into the quicksands of European austerity — just like struggling economies Spain and Portugal.
 
Europe's largest economy, Germany, is expected to grow 0.5 percent this year and the British economy by 1 percent. But the economies of Spain and Italy are expected to contract. And eurozone unemployment will likely climb to 12.2 percent in 2013, before falling slightly next year.

You May Like

Multimedia Social Media Documenting, Not Driving, Hong Kong Protests

Unlike in Arab Spring uprisings, pro-democracy protesters in Hong Kong aren't relying on Twitter and Facebook to organize, but social media still plays a role More

Analysis: Occupy Central Not Exactly Hong Kong’s Tiananmen

VOA's former Hong Kong, Beijing correspondent compares and contrasts 1989 Tiananmen Square protest with what is now happening in Hong Kong More

Bambari Hospital a Lone Place of Help in Violence-Plagued CAR

Only establishment still functioning in CAR's second city is main hospital More

This forum has been closed.
Comments
     
There are no comments in this forum. Be first and add one

Featured Videos

Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
The Legacy of Jimmy Carter: The Preacher from Plainsi
X
October 01, 2014 10:45 AM
It is common in the United States to see tourists flock to sites associated with America's presidents. Some are privately owned and others are run by the National Park Service or the National Archives -- but most have helped draw business and people into the towns and cities where they are located. As VOA’s Kane Farabaugh reports, there is one particular presidential hometown that is unique in what it has to offer those who make the trip.
Video

Video The Legacy of Jimmy Carter: The Preacher from Plains

It is common in the United States to see tourists flock to sites associated with America's presidents. Some are privately owned and others are run by the National Park Service or the National Archives -- but most have helped draw business and people into the towns and cities where they are located. As VOA’s Kane Farabaugh reports, there is one particular presidential hometown that is unique in what it has to offer those who make the trip.
Video

Video Hong Kong Protests Draw New Supporters on National Holiday

On the 65th anniversary of the founding of Communist China, Hong Kong protesters are hoping to stage the largest pro-democracy demonstration since the 1989 Tiananmen protests. VOA's Brian Padden visited one of the protest sites mid-day, when the atmosphere was calm and where the supporters were enthusiastic about joining what they are calling the umbrella revolution.
Video

Video India's PM Continues First US Visit

India's prime minister is on his first visit to Washington, to strengthen political and economic ties between the world's oldest and the world biggest democracies. He came to the U.S. capital from New York, the first stop on his five-day visit to the country that denied him an entry visa in the past. From Washington, Zlatica Hoke reports Modi seemed most focused on attracting foreign investment and trade to increase job opportunities for his people.
Video

Video Malaysia Struggles to Stop People Joining Jihad

Malaysian authorities say militant groups like the so-called "Islamic State" have used social media to entice at least three dozen Malaysian Muslims to fight in what they call "jihad" in Syria and Iraq. As Mahi Ramkrishnan reports from Kuala Lumpur, counterterrorism police are deeply worried about what could happen when these militants return home.
Video

Video Could US Have Done More to Stop Rise of Islamic State?

President Obama says airstrikes against Islamic State militants in Syria will likely continue for some time because, in his words, "there is a cancer that has grown for too long." So what if President Obama had acted sooner in Syria to arm more-moderate opponents of both the Islamic State and the Syrian government? VOA State Department Correspondent Scott Stearns reports from the United Nations.
Video

Video Treasure Hunters Seek 'Hidden Treasure' in Central Kenya

Could a cave in a small village in central Kenya be the site of buried treasure? A rumor of riches, left behind by colonialists, has some residents dreaming of wealth, while others see it as a dangerous hoax. VOA's Gabe Joselow has the story.
Video

Video Ebola Patients Find No Treatment at Sierra Leone Holding Center

At a holding facility in Makeni, central Sierra Leone, dozens of sick people sit on the floor in an empty university building. They wait in filthy conditions. It's a 16-hour drive by ambulance to Kailahun Ebola treatment center. Adam Bailes was there and reports on what he says are some of the worst situations he has seen since the beginning of this Ebola outbreak. And he says it appears case numbers may already be far worse than authorities acknowledge.
Video

Video Identifying Bodies Found in Texas Border Region

Thousands of immigrants have died after crossing the border from Mexico into remote areas of the southwestern United States in recent years. Local officials in south Texas alone have found hundreds of unidentified bodies and buried them in mass graves in local cemeteries. Now an anthropologist and her students at Baylor University have been exhuming bodies and looking for clues to identify them. VOA’s Greg Flakus has more from Waco, Texas.
Colonel Steve ‘Spiros’ Pisanos left Greece and came to the U.S. to learn to fly. He flew fighters for the Allies in World War II, narrowly escaping death multiple times.Colonel Steve ‘Spiros’ Pisanos left Greece and came to the U.S. to learn to fly. He flew fighters for the Allies in World War II, narrowly escaping death multiple times.

AppleAndroid