Doubt over recovery for Europe
European Union Commission chief Jose Manuel Barroso has cast doubt on the stability of the bloc’s recovery, with remarks about the economic situation remaining “very volatile”.
“The impact of the financial and economic crisis is still tangible in Europe and we have much still to do,” he said. “Several European countries are seeing encouraging signs of recovery but firm recovery is not here yet.”
Although the Europe in general is showing signs of stabilising, there are pockets – nations such as Lithuania – that are suffering quite badly.
And while much of the recovery can be attributed to government stimulus packages, countries must make sure recovery is ongoing, said Barroso: “I think we should avoid any kind of complacency. We need to keep a very determined action, do everything we can to exit the crisis and have a sustainable recovery.”