Kom så Helle pige...fortæl om opsvinget og optimismen igen.....
Som jeg husker det har Baroso stået hvert år siden 2008 og sagt det værste er ovre...LOL...Og Rusland tingen er ikke engang begyndt at bide...
EU kan ikke tåle det her skub økonomisk......Så "big things will happen" de næste 2 år
Italy has fallen back into a triple-dip recession, with GDP returning to levels last seen 14 years ago. The toxic mix of recession and very low inflation is a grave threat to Italy’s debt trajectory.
The public debt ratio jumped from 130.2pc to 135.6pc of GDP in the first quarter from a year earlier and will now rise again, despite austerity measures and a primary budget surplus.
“The picture is getting worse rather than better. We are going to get to 140pc for sure next year. Nobody knows when the markets will react,” said a senior Italian banker.
Yields on 10-year Bunds dropped to 1.06pc after a blizzard of fresh data showed that recovery has stalled across most of the currency bloc, with even Germany now uncomfortably close to recession.
Commerzbank warned that the German economy may have contracted by 0.2pc in the second quarter and is far too weak to pull southern Europe out of the doldrums. Industrial output fell 1.5pc over the three months. The DAX index of equities in Frankfurt has dropped 10pc over the past month and is threatening to break through the psychological floor of 9,000.
Mario Draghi, head of the European Central Bank (ECB), said the recovery remained “weak, fragile and uneven”, with a marked slowdown in recent weeks on escalating geopolitical worries over Russia and the Middle East.
Hopes for a swift rebound in Germany are fading. The economics ministry said new orders in manufacturing fell 3.2pc in June, with orders from the rest of the eurozone collapsing by 10.4pc. “What this shows is that Europe is nowhere close to recovery. Monetary policy has run out of traction,” said Steen Jakobsen from Saxo Bank.
The worry is what will happen over coming months as sanctions against Russia bite in earnest. The European Commission said the measures were likely to shave 0.3pc off the eurozone’s GDP this year, with most of the effect concentrated in the second half.
This was before Russia retaliated with a sweeping ban on all imports of meat, fish, dairy products, fruit and vegetables from the EU and the US.
The euro fell to a nine-month low of $1.3347 against the dollar after Mr Draghi said the “fundamentals for a weaker exchange rate are much better than they were two or three months ago”, a clear attempt to drive down the currency by verbal means. “Mr Draghi could barely hide his enthusiasm for the weaker euro,” said Ken Wattret ,from BNP Paribas.
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