Worst likely over for euro zone - says EU Commission
The worst is probably over for the euro zone, but growing unemployment and falling inventories will weigh on any recovery, the European Commission said on Monday. In a quarterly report on the 16-nation euro zone, the European Union executive said the currency area's economic stimulus programme was yielding fruit, but governments must return to fiscal prudence once recovery takes root. "Some very early signs of improvement have been visible in the past few weeks ... The worst seems to be behind us in terms of GDP contraction and our spring forecast predicts a subdued recovery for 2010," the Commission said.
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