Europe losing growth race, says report
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The EU is in danger of being relegated from the economic super-league because of its failure to match the US and Asia in growth, productivity, innovation and competitiveness, a high-level report warned political leaders yesterday on the eve of their
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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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Despite years of efforts, Europe has made little progress toward its goal of surpassing the United States in growth, innovation and productivity by the end of the decade, leading European economists reported Friday.
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Former Dutch prime minister Wim Kok has delivered a damning report on Europe&#39;s growth and competitiveness, warning that it will be &quot;extremely difficult&quot; for the EU to meet its 2010 targets.
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A report commissioned by the European Union said Thursday member countries are dismally behind in achieving economic reforms pledged four years ago.
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LONDON : Europe&#39;s efforts to catch up to and then outpace the US economy have been &quot;a big failure,&quot; the outgoing head of the European Union executive commission, Romano Prodi, told the Financial Times in an interview.
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Expected 2007 eurozone economic growth is downgraded after the recent markets turmoil.
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Equities fall as Europe fears a wider economic slump.
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A study finds that Europeans are less interested in being their own boss than Americans, with more Europeans anxious about bankruptcy.
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Many nations in Europe are now feeling an autumn chill of slackening economies and warnings of further market upheaval.
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The German economy shrank by 0.2 percent in the last three months of 2004, a preliminary estimate by the federal statistics office, Destatis, shows, confirming a slowdown in activity in the eurozone's biggest economy in the second half of last year.
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Business confidence in Germany, France and Italy, the biggest of the 12 economies using the euro, probably fell this month, suggesting economic growth may struggle to accelerate, surveys of economists showed.
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The modest recovery of the German economy ran out of steam in the third quarter, official data showed, as exports, previously the main driving force behind growth of the eurozone's biggest economy, slumped on the back of the global economic slowdown.
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The European Commission will next month lower its eurozone growth projections, but the EU is not facing a recession, European Commission President Jose Manuel Barroso said Tuesday.
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The European Union's head office issued a bleak economic report Tuesday, warning that the sharp rise in oil prices will "take its toll" on economic growth next year while the euro's renewed climb could threaten crucial exports.
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The European Commission yesterday cut its growth forecast for 2005 and warned that nearly half of euro zone members were set to breach their own budget rules, as surging oil prices hit a fragile recovery.
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Good news has been in short supply for Europe&#39;s traditional industrial economies like Germany and France. Growth remains weak, unemployment high, labor markets are still rigid and the euro is soaring, pricing their exports out of the market.