Still Crunching; Credit in the Euro Area  

Oleh:

[s.n]

Jenis: Article from Bulletin/Magazine
Dalam koleksi: The Economist (http://search.proquest.com/) vol. 406 no. 8826 (Mar. 2013), page 68-69.
Topik: Politics; Securities Markets; Central Banks; Recessions; Credit

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Perpustakaan Pusat (Semanggi) Nomor Panggil: EE29.75 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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Isi artikel

After the initial jolt of Italy's inconclusive election last month financial markets have largely regained their poise. For now investors are putting their faith and their money in the pledge of the European Central Bank (ECB) to help countries under siege from the markets with unlimited purchases of bonds. But the risk of political shocks, not just in Italy but in other Mediterranean countries, will only increase as long as economies are stuck in recession. Fourth-quarter output across the euro zone fell by 0.6% compared with the third quarter. Although Germany suffered a similar decline, the economic reverse was much worse on the periphery of the euro area. GDP fell in Italy by 0.9% and in Portugal by 1.8%. Over the past year jobless rates in both countries have lurched up much more than in the euro area as a whole. Growth is likely to remain elusive because southern Europe is suffering not just from a surfeit of austerity but also from a shortfall of credit.

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