Eurozone crisis: hopes of recovery recede while recession looms
Dec 12th, 2011 | By | Category: NewsGerard Lyons, the chief economist at Standard Chartered predicts that the eurozone will contract by 1.5% next year, while the UK will suffer a fall in output of 1.3% A year ago, it was assumed 2011 would see life return to normal. Europe would sort out its little local difficulties, China and India would power along, and Barack Obama would use a resurgent US economy as the springboard for his re-election campaign.
