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Special Report: Crisis plunges EU into recession
"The economic horizon has now significantly darkened as the European
Union economy is hit by the financial crisis that deepened during the
autumn and is taking a toll on business and consumer confidence.
Emerging economies are holding up better than the EU and the US, so
far, but even they are unlikely to escape unscathed. We need a
coordinated action at the EU level to support the economy similar to
what we have done for the financial sector. The Commission last week
set out a framework for recovery that aims to boost investment,
sustain employment and demand. We are looking forward to hearing
Member States' views and, especially, for a joint approach at the EU
level ", said Joaquín Almunia, Economic and Monetary Affairs
Commissioner.
Read full report: http://infoclickindia.com/fnews.php?id=74&path_news=European%20Commission.jpg
"The economic horizon has now significantly darkened as the European
Union economy is hit by the financial crisis that deepened during the
autumn and is taking a toll on business and consumer confidence.
Emerging economies are holding up better than the EU and the US, so
far, but even they are unlikely to escape unscathed. We need a
coordinated action at the EU level to support the economy similar to
what we have done for the financial sector. The Commission last week
set out a framework for recovery that aims to boost investment,
sustain employment and demand. We are looking forward to hearing
Member States' views and, especially, for a joint approach at the EU
level ", said Joaquín Almunia, Economic and Monetary Affairs
Commissioner.
Read full report: http://infoclickindia.com/fnews.php?id=74&path_news=European%20Commission.jpg