‘Virtual standstill’ forecast for EU growth

Economic growth across the European Union will have slowed to a 'virtual standstill' by the end of 2011 – but a recession should be avoided, according to the European Commission in forecasts issued on the 15 September 2011.

Sharply-revising down growth forecasts for the 27-country region, the Commission warned that prospects had been hit by financial market turmoil, fiscal austerity, tumbling business and consumer confidence and weaker global demand.

EUObserver, 15.9.11: EU economic growth is coming to a 'stand-still' http://euobserver.com/19/113643

European Commission; RAPID: Press Release, IP/11/1035: EU interim forecast: Recovery stalls amid financial market crisis http://europa.eu/rapid/pressReleasesAction.do?reference=IP/11/1035&format=PDF&aged=0&language=EN&guiLanguage=en

European Commission: DG Economic and Financial Affairs: EU Economic Situation: Commission publishes interim economic forecast, September 2011 http://ec.europa.eu/economy_finance/articles/eu_economic_situation/2011-09-interim_forecast_en.htm

BBC News, 15.9.11: EU predicts Eurozone growth is 'coming to a standstill' http://www.bbc.co.uk/news/business-14930126

Deutsche Welle, 15.9.11: EU foresees slower growth for eurozone, no recession http://www.dw-world.de/dw/article/0,,15389961,00.html

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