19 Jan '12, 12am

The euro zone is 'on the brink' of a technical recession: Juncker

The euro zone is 'on the brink' of a technical recession: Juncker

The euro zone is close to recession, Jean-Claude Juncker, the Luxembourg premier who heads the eurogroup, said on Wednesday after the World Bank slashed its global growth forecasts. -- PHOTO: AP BRUSSELS (AFP) - The euro zone is close to recession, Jean-Claude Juncker, the Luxembourg premier who heads the eurogroup, said on Wednesday after the World Bank slashed its global growth forecasts. 'In the euro zone we are on the brink of a technical recession,' he said, referring to the term used for two consecutive quarters registering falls in GDP. The World Bank slashed its growth forecasts from 3.6 per cent to 2.5 per cent in 2012 on Tuesday and warned that rich nations' debt problems may yet reap a crisis that would eclipse the tumult of 2008. 'I think budgetary consolidation is an approach to which there is no alternative,' Mr Juncker said at a new conference held after tal...

Full article: http://www.straitstimes.com/BreakingNews/Money/Story/STIS...

Tweets

"In the euro zone, which governs the market"

sfluxe.com 22 Jan '12, 2pm

Whether the equity market, which Defines the standard of profitability requires the foreign exchange market, which determi...