European woes put the US recovery at risk

Note: This section contains information in English only.
Source: The Wall Street Journal
Likelihood of Greece exit from the Eurozone, increasing borrowing costs in Italy and Spain, recession in some European states are contributing to increasing concerns about an intensifying crisis, which might hinder fragile recovery of the US economy. However, the US exports to Europe have been improving since the financial crisis in 2008.  
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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.

Fri, 11 May 2012 20:23:31 GMT

Eurozone's economy predicted to shrink in 2012

European commission forecasts that Eurozone economy will shrink 0.3% in the course of 2012 but will experience 1% growth in 2013. Commission also forecasts that economies of all 27 members on aggregate will experience zero growth in 2012 and 1.3% growth in 2013. Mainly due to the highest unemployment level in the European Union, the only country, which economy is predicted to shrink next year is Spain.

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