Sleepless Nights for Czech Finance Minister as Eurozone Economy Sputters

moneymorning

By Jason Simpkins
Managing Editor
Money Morning

Economic confidence in both the Eurozone and greater European Union (EU) hit a record low in December, adding to an already long list of challenges that face that region.

And even though policymakers have an economic stimulus package in place, confusion over future fiscal policy lingers.

The European Union certainly has a full plate right now. Large portions of the 27-nation bloc are lumbering through the depths of winter without heat, as the Ukraine and Russia continue their row over gas prices. The region is also pressing Israel to end military operations in Gaza, although they’re applying that pressure with little or no help from the United States.

Still, the EU can’t lose sight of its own economic crisis, a crisis of confidence that has emerged from the collapse of the global financial system.

Confidence in the EU economy hit a record low in December, the European Commission said today (Thursday). The Commission’s economic sentiment indicator (ESI) fell 7.0 points to 63.5. The ESI for the Eurozone -the 16 countries that use the euro -fell 7.8 points to 67.1. Both readings are the lowest since the indicator was launched in 1985.

Confidence plummeted across all sectors, which suggests the recession that began in the second quarter of last year.

“December’s EC survey brings more alarming evidence that the recession in the Eurozone is deepening rapidly,” Jennifer McKeown at consultants Capital Economics told the Strait Times.

Read More

whiteflag_3

moneymorning wrote: »

By Jason Simpkins
Managing Editor
Money Morning

Economic confidence in both the Eurozone and greater European Union (EU) hit a record low in December, adding to an already long list of challenges that face that region.

And even though policymakers have an economic stimulus package in place, confusion over future fiscal policy lingers.

The European Union certainly has a full plate right now. Large portions of the 27-nation bloc are lumbering through the depths of winter without heat, as the Ukraine and Russia continue their row over gas prices. The region is also pressing Israel to end military operations in Gaza, although they’re applying that pressure with little or no help from the United States.

Still, the EU can’t lose sight of its own economic crisis, a crisis of confidence that has emerged from the collapse of the global financial system.

Confidence in the EU economy hit a record low in December, the European Commission said today (Thursday). The Commission’s economic sentiment indicator (ESI) fell 7.0 points to 63.5. The ESI for the Eurozone -the 16 countries that use the euro -fell 7.8 points to 67.1. Both readings are the lowest since the indicator was launched in 1985.

Confidence plummeted across all sectors, which suggests the recession that began in the second quarter of last year.

“December’s EC survey brings more alarming evidence that the recession in the Eurozone is deepening rapidly,” Jennifer McKeown at consultants Capital Economics told the Strait Times.

Read More

Great first post!

I now fully understand how to save money on mu pensions:T