Barroso says Europe will avoid return to recession

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5corpio started a blog post Barroso says Europe will avoid return to recession
5 September 2011, 08:50

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Barroso says Europe will avoid return to recession

Where have i heard this one before.....

Originally posted by 5corpio

Europe will not slide back into recession, and the euro remains "strong and resilient", the president of the European Commission has said. Jose Manuel Barroso added that the Commission and national governments were "doing all it takes" to tackle the debt problems in the eurozone area. His comments came after rating agency Standard & Poor's (S&P) said last week that the risk of a double dip recession in the eurozone had grown.

Yet S&P said that it should be avoided.

'Tighter regulation'
Mr Barroso was speaking during an official visit to Australia.
He said: "We don't anticipate a recession in Europe. "The latest forecast by the European Commission shows there will be growth, modest growth it is true." Mr Barroso added: "I want to be very clear here - the European Union and euro are strong and resilient.....Read more on this story-----> CLICK HERE
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- #1
  
  5corpio commented
  
  5 September 2011, 10:54
  
  Editing a comment
  
  Banks 'would not survive sovereign debt devaluations'
  
  A number of European banks would not survive a cut in the value of their sovereign debt investments, the chief executive of Deutsche Bank has warned. Speaking at a gathering of bank bosses in Frankfurt, Josef Ackermann said he was "stating the obvious".
  
  His comments come as Greece is asking private investors to swap their current Greek bonds for others that pay less interest over a longer term. This has raised concern that other eurozone nations may do the same. Mr Ackermann said: "It's stating the obvious that many European banks would not survive having to revalue sovereign debt held on the banking book at...Read more HERE
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Barroso says Europe will avoid return to recession

Barroso says Europe will avoid return to recession