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Cross over: Survey signals eurozone will not avoid recession

03-23-2012 13:58 BJT

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In the European trading session, stocks are down across the board, as the latest PMI data shows the eurozone's economy took an unexpected turn for the worse in March, hit by a sharp fall in French and German factory activity that even the most pessimistic economists failed to predict. <Full story>

For what this means for the eurozone going forward, Melanie Ralph joins us from London.

Q1. Melanie, with all indicators showing the eurozone won’t be able to avoid a recession, how worries should we be? What is going to drive the bloq in the months ahead, especially given peripheries that are already in recessions?

Q2. And Melanie, the LTRO high has begun to wane. The ECB pumped more than 1 trillion euros of cheap, three-year loans into the banking system since December, but this latest data suggests it hasn’t really gone anywhere. With a recession now looking imminent, surely banks are even less likely to loan the money out. how is it going to feed through to the wider economy?

Thanks, Melanie. Stay with us.



Editor:Zhang Rui |Source: CNTV.CN

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