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When Europeans change course

Economic forecast do not belong to exact sciences.This is the easy way out to explain the current situation in the EU which shows that the economic outlook has deteriorated. The GDP throughout the EU (27 members) would shrink by 0.1% this year and by 0.4% across the euro zone (17 members). And unemployment is expected to reach respectively 11.1% and 12.2%. Accordingly european officials with the exception of German and Austrian leaders have adopted a new tone concerning the method of tackling the crisis. Despite the fact that France, Spain and Netherlands missed the target to reduce their deficit, the officials in Brussels have as a priority to avoid the spreading of social troubles across Europe. In a word fiscal consolidation must now make room to structural reforms in order to unlock growth in Europe. Let's wait to see what happens next !

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