Here is a good overview picture of the economic situation in the European Union, as explained by European Central Bank President Jean-Claude Trichet, in his speech to keep ECB Interest Rate unchanged.
Basically, EU Economy remains weak, but the deterioration is expected to be less serious, compared to the last one year. The underlying message is that the year 2009 is expected to be in Negative Growth, but Mr. Trichet mentioned that he expected positive growth in year 2010, based on the data available today.
Basically, EU Economy remains weak, but the deterioration is expected to be less serious, compared to the last one year. The underlying message is that the year 2009 is expected to be in Negative Growth, but Mr. Trichet mentioned that he expected positive growth in year 2010, based on the data available today.
Best wishes,
Ooi
Video Courtesy of Wall Street Journal.
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