European Restructuring Monitor Quarterly - 2010, Issue 1

Hurley J, Riso S, Salvatore L, Billingham D, Schulze-Marmeling S, Broughton A |  Issue 1, Spring | European Monitoring Centre on Change | May 2010

Though no longer in recession, the EU economy remained fragile, with growth well below trend rates. Unemployment continued to rise, though at a slowing pace (it stood at 9.6% in the EU27 in February 2010).

Financial market activity had stabilised, with few signs of a return to the volatility experienced in late 2008. The main macroeconomic preoccupation in the first quarter of 2010 related to the state and sustainability of the public finances in a number of Member States with high levels of government indebtedness.

In a context of perceived risks to the stability of the euro, a common eurozone response to the Greek sovereign debt situation was emerging in the second week of April. Without a broadly based return to growth, problems related to high levels of public debt were felt likely to re-emerge.

On a more positive note, data from the US and Japan showed signs of a more healthy recovery with real growth of 1.4% and 0.9% respectively in the most recent quarter. Alongside more positive indicators from developing countries, it was felt this might serve to underpin the European recovery in 2010.

Publication details

Jointly researched by IES.

Project Client European Foundation for the Improvement of Living and Working Conditions
Number of pages 20
ISBN Number (no ISBN)
Download link http://www.eurofound.europa.eu/emcc/e...

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