Euroarea Recession Likely to Persist Throughout H2-2012

Euroarea Recession Likely to Persist Throughout H2-2012


Quotes from Standard Chartered:
-After stagnating in Q1-2012, we expect euro-area GDP to contract by 0.5% q/q in Q2-2012, with further contraction in Q3 and Q4, resulting in a fall in GDP of 0.8% for 2012 overall. Next year, we think euro-area economies will experience another year of tight fiscal policy, while bank lending should remain constrained and confidence jittery.
-In particular, we think the European debt crisis and underlying tensions in peripheral countries' debt and interbank markets will remain a threat for some time as policy makers' efforts towards further integration remain slow. Greece is at risk of leaving EMU if relationships with the creditors sour.


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