European Commission warns of likely permanent loss in Eurozone potential economic output because of global economic crisis
Jul 3rd, 2009 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
The European Commission says in its latest quarterly report on the Eurozone that the economy is still deep in recession territory but the EU's strong and coordinated policy response is providing tangible support to economic activity with evidence of some tentative signs of improvement. However, the report warns of a likely permanent loss in potential economic output as a result of the global economic crisis.