Tuesday March 31, 2015 Search
Weather | Athens
14o C
09o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Eurozone recovery ‘gathering speed’

Further evidence emerged on Monday that the economic recovery across the 18-country eurozone is accelerating and, perhaps more importantly, spreading to the bloc’s debt-laden laggards.

Financial information company Markit, which publishes a closely watched monthly survey of economic conditions across the region, even suggested that the economic recovery is running at a near three-year high.

It is now forecasting quarterly economic growth of 0.5 percent, which equates to an annualized increase of a little more than 2 percent.

In the fourth quarter of 2013, the eurozone grew by a quarterly 0.3 percent.

The forecast improvement will help ease worries that the recovery from recession isn’t gaining traction.

The eurozone emerged from its longest-ever recession last spring.

A more detailed look at the survey shows Germany, Europe’s largest economy, continues to spearhead the growth and that the recovery is spreading to France and beyond to those economies, such as Greece and Spain, which have been weighed down by government-imposed austerity programs for years.

“The rest of the region also enjoyed its best quarter for three years, providing further evidence that the ‘periphery’ is staging a robust-looking recovery,” said Chris Williamson, chief economist at Markit.

As well as helping to cap the rise in unemployment, economic growth is important for a region that is still operating at way below the level it would have been were it not for the global financial crisis and the ensuing debt crisis.

The lost output has kept a lid on price increases by reining in the power of businesses to raise prices or workers to demand higher wages.

As a result, inflation levels have dropped sharply and in some cases, such as in Greece and Cyprus, prices are actually falling.

[AP]

ekathimerini.com , Tuesday March 25, 2014 (13:46)  
Russian firms to bid for Greek oil and gas drilling tender, says energy minister
How Grexit bill could dig deep into ECB pockets
Greek retail sales dip in January for third month in a row
Greek jobless rate inches up to 26 pct in December
Government to propose committee to examine Greece´s memorandums
The SYRIZA-led government is expected to submit a proposal for a parliamentary committee to examine the handling of the Greek debt crisis by previous administrations. The proposal, which may...
Senior member of Merkel´s bloc resigns over Greek bailout
A senior member of German Chancellor Angela Merkel's conservative bloc announced Tuesday he was stepping down in a dispute over the government's response to Greece's debt woes. Peter Gauweil...
Inside News
SOCCER
Cyprus soccer eyes reunion after 60-year divorce
Turkish Cypriot soccer officials on Monday vowed to press ahead with attempts to reunite with the Cyprus Football Association, (CFA), triggering a political storm on the ethnically-split isl...
SOCCER
Three Greek internationals injured in Budapest car crash
Three Greek international soccer players were slightly injured on Monday in a car crash as they travelled by taxi to Budapest airport following Greece's Euro 2016 qualifying goalless draw ag...
Inside Sports
COMMENTARY
Amateur antics or overstepping the mark?
There are 149 plus two reasons why those who have been watching SYRIZA’s progress since its start cannot and never will be able to stomach the leftist party’s coalition with Independent Gree...
EDITORIAL
A pointless debate
Monday’s parliamentary debate between the country’s political leaders left a lot to be desired. There was no information whatsoever about the coalition government’s proposed reforms or the p...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Russian firms to bid for Greek oil and gas drilling tender, says energy minister
2. Government to propose committee to examine Greece´s memorandums
3. Senior member of Merkel´s bloc resigns over Greek bailout
4. How Grexit bill could dig deep into ECB pockets
5. Greece, EU/IMF lenders end round of technical talks without deal
6. Hospital doctors give deadline for new hires, back pay
more news
Today
This Week
1. Amateur antics or overstepping the mark?
2. A pointless debate
3. Parliamentary speaker prompts ND walkout, anger from PASOK, Potami
4. Greek government proposes measures worth 3.7 bln
5. Investment guru Mark Mobius rules out Grexit, advises sell-offs
6. Shops to open Sunday ahead of Easter holidays
Today
This Week
1. Next Monday is D-Day for state funds
2. Eurogroup unlikely to be held soon to discuss Greek reforms
3. Moscow expects progress from Tsipras visit
4. Some more equal than others
5. Greece to present reforms by Monday, says gov't spokesman [Update]
6. Greece optimistic on deal with euro area next week
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2015, H KAΘHMEPINH All Rights Reserved.