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irshad ali

EUROZONE FACES WINTER RECESSION, ERNST & YOUNG SAYS - 0 views

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    The eurozone is facing a "bleak" winter, according to audit firm Ernst & Young. A "mild" recession is likely in the first half of next year, leading to economic growth of just 0.1% for the whole of 2012, it predicted. Ernst & Young also said unemployment in the eurozone was unlikely to fall below 10% until 2015. Meanwhile, Greece - Europe's most indebted country - said that it would have its worst recession ever in 2011. Greek Prime Minister Lucas Papademos warned on Wednesday that his country's contraction would be greater than the 5.5% currently forecast.
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