Thursday, 12 May 2011
Possible Eurozone meltdown
The IMF estimates that the Eurozone will grow by 1.7% this year, the same as in 2010, and 1.9% next year, assuming debt crises don't derail the economy. IMF expressed concern that the British economic faces "considerable short-term uncertainty, as growth turned flat in late 2010. With banks in Britain, France and Germany holding bonds from highly indebted nations "a shock to confidence could spread quickly throughout Europe," the IMF warns.