Southern euro-countries worst hit by recession

The EU economy is expected to grind to a halt in the 27 member states and to contract by an average of 0.3 percent of the eurozone's gross domestic product (GDP), with recession hitting Greece, Portugal, Italy and Spain worst, fresh EU forecasts for this year show.

"Compared to November, the prospects have worsened. Risks to growth outlook remain, but there are signs of stabilisation," EU economics commissioner Olli Rehn said Thursday (23 February) when presenting the forecast of what ...