The recovery from the crisis stopped in the EU

The recovery process from economic crisis stopped in the EU, we have to prepare for economic stagnation in Europe – told the European Commission in its comprehensive forecast published on Thursday.

According to the report; the rapidly declining confidence effects on consumption and investment as well. The weakening global growth will slow down EU exports, while the urgent fiscal consolidation will put a weigh on domestic demand. In most part of the following year, EU's GDP will stagnate, a half-percent increase is projected in the union for 2012, and  1.5 percent growth for 2013 – reports MTI.