Euro area: Growth to stagnate | Eurobank
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Euro area: Growth to stagnate

• Economic sentiment has deteriorated sharply as the debt crisis escalated affecting core euro area members.
• We have revised downwards our growth projections for this year (1.6%) and 2012 (0.8%) on the backdrop of tighter austerity and a less favorable global environment.
• A technical recession is likely around the end of the year. In our view, the recession will most likely be shallow, resembling more a stagnation of growth than an outright recession.