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Euro zone reeling towards recession
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The Euro zone is heading for an economic downturn with growth plummeting 0.2% in the second quarter, according to a European commission statement issued in Brussels on Monday.
- In 2009, the European Union economy is expected to stall, the statement warned.
- The meltdown will mark the Euro zone's first recession since the Euro currency's inception in 1999.
- The EU commission also forecast further falls of 0.1% in the third and fourth quarters of this year.
- Manufacturing in the zone decreased in October to its lowest level since 1997.
- New orders slumped as both EU consumers and businesses reduced spending due to the financial crisis and fears of a lashing recession.
- As a result of this looming economic downturn, European companies also slashed jobs at the fastest rate since January 2002.
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uzu ukamaka : nigeria
on
07 January, 2009 02:17:19
ronaldo is the best.
yacine : algeria
on
07 January, 2009 12:27:04
it is very good action of our student and the country as hole...
Ismail1989 : Tebessa (Algeria)
on
07 January, 2009 11:15:27
Across the world there were protests against the zionists, in the Arab world too, but our leaders don't dare to say a word like (interromping ...
Marja : United States
on
06 January, 2009 05:35:10
This is truly amazing. I had never heard of Ibn al-Haytham before reading this article. It's amazing how euro-centric ideas bias many people ...
salaheddinne : algerian resident in england
on
06 January, 2009 03:18:22
every candle in each house shows and a proof the lenght and the huge gap of ignorance in our society as a whole including ...
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