Eurozone in 'Mild Recession': EU Commissioner
The Eurozone is currently going through a mild recession, the European Union's Economic Affairs Commissioner Olli Rehn said on Tuesday.
"The euro area is currently in a mild recession," he said.
Rehn had said in January that he expected Eurozone activity to contract in the first half of this year.
Rehn said on Tuesday that he was convinced that economic reforms under way in many European Union countries, although difficult for citizens, amounted to a solid base for lasting growth.
Source: Agence France Presse
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