The European Commission's outlook for the Eurozone economy

Note: This section contains information in English only.
Source: The Wall Street Journal
The unemployment rate in the Eurozone is expected to increase to 11 % this year, up from 10.2 % in 2011, with the economic outlook getting more pessimistic, the European Commission reported on Friday. Spending cuts and tax increases have undermined the economy more than expected. However, the commission expects a slight recovery for the Euro bloc of 1 % economic growth next year. 
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Mon, 14 May 2012 06:59:20 GMT

China cut RRR by 50 bps

The central bank of China reported on Saturday that it decided to decrease the reserve requirement ratio (RRR) for its banks by 50 basis points, indicating the second reduction for 2012. The cut comes in force on May 18 and is expected to pump 400 billion Yuan into the country's market, according to Lian Ping, chief economist from the Bank

Mon, 14 May 2012 04:54:20 GMT

Protests in Spain

On Saturday tens of thousands of protestors demonstrated in Madrid and other big cities, expressing their discontent with a grim economic outlook, and the measures undertaken to combat the crisis. Spain's economy is in recession with the highest unemployment rate among the Eurozone member states of 25 %. Due to such serious economic difficulties, a bailout is expected.

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