Eurozone Tunnel Darkens, Grim Signals From Business

0 Posted by - May 25, 2012 - Career & Business, Economics, Foreign Affairs

cfed220ce766f1 300x219 Eurozone Tunnel Darkens, Grim Signals From BusinessEurozone tensions rose again on Thursday with grim signals from business, and a rush for German bonds on the risk of chaos over Greece despite efforts by France and Germany to calm the crisis.

An informal summit of European Union leaders overnight resulted in little apart from attempts to paper over deep cracks between France and Germany over diluting economic reforms with growth stimulus.

Hanging over the summit and business and finance is the possibility of Greece leaving the eurozone.

The latest surveys of eurozone business confidence showed the worst monthly fall in May for nearly three years, to 45.9 points on the Markit PMI index from 46.7 in April, with anything less than 50 signalling slowdown.

CONTINUED at the Times of India.

No comments