Monexnews-Euro decrease the gain after the European Commission gave a gloomy economic outlook for the euro-zone. "The euro-Zone will not record positive economic growth up to 2014. The euro zone economy-will contract 0.3% in 2013, "said the European Commission blamed the low channeling credit banking and high rates of unemployment as a barrier to economic recovery. EUR/USD is traded now, away from the high level 1.3204 daily 1.3244
Economic Outlook given the European Commission is quite a contrast with previous estimates that predict the recession will end in 2013. This means the euro-zone will experience a longer recession than it should be. "Improving the situation of the financial markets is not coupled with the growth of credit. With low credit growth then economic activity will still be weak for the short term. Labor market conditions also quite dismaying, "said Marco Buti, Director-General of the economic and Monetary Field to the European Commission. (fr)
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