12:58 am - Saturday November 1, 2014

Schroders Provides a Deep Recession in Euro Area

According to Azad Zangana, Europe economist at Schroders, the euro area will experience a sharp recession in 2012 is expected to spread throughout Europe, including the United Kingdom.

“Many banks in the euro area already in trouble – unable to raise capital on financial markets and heavily dependent on cash from the European Central Bank,” says the economist.

According to estimates by Schroders, Italy will raise about 275 billion euros in 2012 to repay maturing debt, pay interest and pay civil servants.

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Filed in: Business, Finance

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