Weak EU growth endangers global economy
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British Chancellor of the Exchequer Gordon Brown warned Friday that a weak growth in the 25-member European Union bloc is endangering the global economy.
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British Chancellor Gordon Brown believes action must be taken to protect economic growth. Photo: AP. The global economic recovery is at risk unless governments tackle growing trade imbalances
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The German economy, the biggest in the 12-country eurozone, nearly came to a standstill in the third quarter as exports, previously the main driving force behind growth, slumped on the back of slowing global growth, official figures showed.
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Europe's fragile recovery is being held back by the surge in world oil prices, which is limiting growth and threatening to stop key eurozone economies from restoring order to their public finances, analysts say.
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Economic growth in the euro area slowed to 3 percent while the EU as a whole expanded by a slower 3.2 percent in the first three months of the year as household spending barely moved, the European Union said Friday.
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Some suggest that excess liquidity could threaten the world's economy.
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BRUSSELS, Belgium  - The growth of the euro-zone economy slowed in the final quarter of 2004 as Germany, the Netherlands, Italy and Greece each experienced a contraction in output, European Union data showed Tuesday.
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A slowdown in the U.S. economy will likely drag on global growth next year, economists predict, but Asia and Europe are expected to remain fairly resilient amid signs of healthy consumer demand.
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The euro-zone economy grew by 0.5 percent in the second quarter of 2004, a touch slower than in the first three months of the year, according to initial estimates released Tuesday by the European Union.
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LONDON, October 26  - The European Commission has reduced its growth forecasts for the Eurozone economy for 2005, saying that the elevated oil prices and a continued rally in the euro would adversely impact the economy next year.
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Europe&#39;s demographic crisis could break public finances and slash growth to stall-speed within a decade, according to a wise-men&#39;s report published by the European Commission yesterday.
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DUBLIN, Nov 15  - US Treasury Secretary John Snow said Monday the eurozone was growing &quot;below its potential,&quot; calling it &quot;negative&quot; for the global economy.
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Sluggish growth in the eurozone is holding back the global economy, according to the US Treasury Secretary John Snow. Speaking during a visit to Dublin, he said the zone was growing at &quot;below its potential
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A slowdown in the US will crimp global economic growth in 2007, a report from the OECD predicts.
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The economy almost stalled late last year, with its worst growth rate since 2002.
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European Union leaders are failing to deliver on economic reform promises made at the beginning of the decade,  a high level report warns.
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The euro's strong performance in recent weeks is worrying everyone from small-business owners to heads of state.