GDP Will be Hit by Fiscal Squeeze

LONDON, June 16, 2010 /PRNewswire/ -- Growth in the eurozone will be hit by government belt tightening, says the EIU in its latest forecast adding that the euro will also hover at a lower level against the US dollar in to 2011.

In an interview with financial broadcaster http://www.cantos.com, Robert Ward of the Economist Intelligence Unit said while exporting countries such as Germany will benefit from a weaker euro, especially with exposure to emerging markets, growth across the region will continue to be weak.

"We still don't expect the eurozone as a whole to really do much better than about 0.7 per cent in terms of growth this year and pretty much the same next year. So not a disaster, but really quite uninspiring in the round."

The interview and transcript are available now on http://www.cantos.com/eiu

Cantos.com features in-depth interviews, documentaries and live webcasts. If you would like to contact us, please email [email protected] or phone +44(0)207-936-1352.

SOURCE Economist Intelligence Unit

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