Euro area economy is expected to slow down more markedly than initially expected, because of the impact of increasing risks, including a disorderly Brexit, and external tensions primarily driven by the US-China trade war.
European Commissioner for Economic Affairs Pierre Moscovici said on Wednesday (7 February) he is not worried about the volatility seen in markets, as the Commission revised upwards its growth forecast to 2.3% this year and 2% in 2019, both for the eurozone and the EU as a whole.
The European Commission predicted in its winter forecast €226 billion in additional spending as part of the fiscal stimulus promised by the new US government, but its economic impact will be “very low”.
European Commission Vice-President Olli Rehn, responsible for economic and monetary affairs, told the European Parliament yesterday (25 February) that the EU economy was recovering overall, but warned of the risks of “protracted low growth” if structural reforms were not implemented.
The need for fast, accurate and balanced information is always important. We value EURACTIV's good, independent journalism and support this initiative
Mella Frewen, Director General of FoodDrinkEurope
EURACTIV plays a vital role in bringing Europe closer to its citizens. EURACTIV has long recognised that the story of Europe has to be told across the continent, and not just in Brussels. We need to support a truly European and informed debate.