image 22.11.2017
EET 04:04:15
CET 03:04:15
   
Click for latest actual time
 
 
 
 
 
 
 
 
 
 
 
 
 
Focus focus preview Click on focus to view     image SCC Latvia
    image SCC Lithuania
    image Estonian Swedish Chamber
    image Estonian Swedes
barometer The Estonian
Economic Barometer
    image Key Economic Indicators
    image Foreign Direct Investments
    image Goods Exports and Imports
    image Balance of Payments





picture News November, 22 2017
image: The Eurozone – for better or worse The Eurozone – for better or worse

- Looking at the figures of economic growth and unemployment, the Eurozone is a failure, said Morten Hansen, Head of the Economics Department at the Stockholm School of Economics in Riga, as he addressed current euro issues and trends at a SCCE Business Seminar Thursday, April 4th.

- The financial crisis caused a deep recession but the Eurozone recovered quite fast and showed a close to 2,5% growth in 2011. However, this New Year the Eurozone went down to 0% growth and today the recession is a fact with a negative one percent average.

- As for unemployment, the Eurozone was down to below 7,5% in the beginning of 2008 but since then the figure has increased dramatically and we are now facing a close to 12% unemployment rate in the Eurozone.

- These figures, as well as other problems mainly connected to budget deficits and government debts in euro countries like Greece, Italy, Ireland and Cyprus, have a negative impact on Estonia as a considerable part of the country’s exports go to countries in the Eurozone.

- However, looking at inflation the Eurozone average has been close to the 2% target since the end of the 1990’s though we saw a 4% peak in 2008 immediately followed by a -0,5% deflation in 2009. The current Eurozone average is some 1,8% but in January this year, Estonia was noted for an unfavorable above 4% rate of inflation.

- Latvia is now well on its way to join the euro January 1st next year. The assessment procedure is ongoing and the European Council is expected to make its final decision on June 28th, concluded Morten Hansen.

Morten Hansen’s Business Seminar presentation is available on line at www.swedishchamber.ee.

On behalf of the SCCE Council, I would like to thank Morten Hansen, and his SSE Riga colleagues Kārlis Krēsliņš and Anders Alexanderson, for a very interesting and high spirited presentation. My thanks also go to the team at Meriton Grand Conference and Spa Hotel for an excellent Business Seminar set up.

Sincerely,

Kristiina Sikk



read more:
· Newsletter SSE Riga
· Presentation_MH
· Presentation_KK


< back
royal members
sweden
swedishtrade
abb
maqs
meritonhotels
roedl
seb
ericsson
telia
hemtex
itk
Västerbottensost
ajtooted
Wendre
Pärnu Bay Golf
Saare Golf
Tartu Ülikool
VIA3L spedition
 
Swedish Chamber of Commerce in Estonia  ·  GSM: +372 501 9813  ·  e-mail: info[at]swedishchamber.ee  ·  statistics