Europe Outlook Dims as Bank Meets
The Wall Street Journal noted in an article today (9/6/12) that recent reports released this week show the euro-zone’s economic downturn accelerated during the summer raising concerns that even aggressive anti-crisis measures from the European Central Bank (ECB) won’t be enough to keep the euro bloc from sliding into a deep recession.
The Journal said the reports raise a vexing problem for ECB policy makers who will be meeting this week. Even if they announce detailed plans to buy government bonds as a means to lower borrowing costs for crisis-hit countries, the measures’ effectiveness may be limited by high unemployment, weak consumer confidence and stagnant growth prospects.
To read the Wall Street Journal article click here.
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