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| Version 0 | Version 1 |
|---|---|
| Eurozone economy 'to shrink 1.9%' | Eurozone economy 'to shrink 1.9%' |
| (20 minutes later) | |
| The eurozone economy will shrink 1.9% in 2009 and grow by only 0.4% in 2010, the European Commission has forecast. | The eurozone economy will shrink 1.9% in 2009 and grow by only 0.4% in 2010, the European Commission has forecast. |
| The commission said annual inflation in the 16 countries using the euro would be 1% in 2009 and 1.8% a year later. | The commission said annual inflation in the 16 countries using the euro would be 1% in 2009 and 1.8% a year later. |
| Unemployment in the eurozone is expected to exceed 10% of the workforce in 2010, up from 7.5% in 2008. | Unemployment in the eurozone is expected to exceed 10% of the workforce in 2010, up from 7.5% in 2008. |
| The commission hopes it will be possible "to create the conditions for a gradual recovery in the second part of 2009" in the eurozone economy. | The commission hopes it will be possible "to create the conditions for a gradual recovery in the second part of 2009" in the eurozone economy. |
| Economy Commissioner Joaquin Almunia said in a statement it would be achieved through "measures to stabilise the financial markets, the easing of monetary policy and the economic recovery plans". | Economy Commissioner Joaquin Almunia said in a statement it would be achieved through "measures to stabilise the financial markets, the easing of monetary policy and the economic recovery plans". |
| Last week, Germany became the latest country to unveil an economic stimulus package worth about 50bn euros ($67bn; £45bn) to kick-start Europe's largest economy. | Last week, Germany became the latest country to unveil an economic stimulus package worth about 50bn euros ($67bn; £45bn) to kick-start Europe's largest economy. |
| Different vews | |
| Analysts gave different opinions on the commission's latest forecast. | |
| Sunil Kapadia at UBS Bank said: "On the growth figures for 2009, it's a pretty fair assessment". | |
| However, Gilles Moec at Bank of America said it was more pessimistic than the Commission, forecasting a contraction of 2.6% in 2009. | |
| According to official figures, the eurozone has been in recession since September of last year. | According to official figures, the eurozone has been in recession since September of last year. |
| Eurozone's key interest rate is now at 2%, its lowest level since December 2005. | Eurozone's key interest rate is now at 2%, its lowest level since December 2005. |