EUROZONE’s Almunia on the Wires
Written May 4, 2009 at 5:48 AM EST by Danish FX
EU’s Almunia: Seeing positive signs about Euro-Zone economy recently however outlook remains ‘gloomy’
- Notes economy is ‘no longer in free fall’ but situation is still ‘fragile’
- More needs to be done to treat impaired assets on banks balance sheets
- Gov’t bond spreads have narrowed
- Tentative recovery in stock markets
- Expects downturn to bottom in H2 of 2009
- Does not see serious risks of deflation in Euro Zone
- More needs to be done to treat impaired assets on banks balance sheets
- Gov’t bond spreads have narrowed
- Tentative recovery in stock markets
- Expects downturn to bottom in H2 of 2009
- Does not see serious risks of deflation in Euro Zone
- More pessimisitic Irish growth outlook due to higher deficit projection
- Still appropriate for Ireland to cut deficit below 3% of GDP
- Note: According to EU commision projections, 2009 Irish Deficit forecast at 12% of GDP, 2010 Deficit seen at 15.6% of GDP, 2009 Irish GDP seen at -9.0%, 2010 GDP seen at -2.6%
- Note: According to EU commision projections, 2009 Irish Deficit forecast at 12% of GDP, 2010 Deficit seen at 15.6% of GDP, 2009 Irish GDP seen at -9.0%, 2010 GDP seen at -2.6%
Categories: Forex News | Tags: Eurozone
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