15 August 2013

Is the Economic Crisis Over?

According to the latest Eurostat report, GDP rose by 0.3% during Q2 in the Euro area while the Industrial production grew by 0.7%. The highest growth was in crisis stricken Portugal, with a GDP gain of 1.1 %. Greece had a budget surplus of €2.6 billion and Hungary repaid earlier than expected its entire debt of €2.15 billion to the IMF. However, Economic and Monetary Affairs Commissioner Olli Rehn cautioned that there is still a long way ahead.

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