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Falling oils prices 'a welcome shot in the arm' for the eurozone (Photo: ezioman)

Eurozone to benefit from oil price fall

The eurozone economy will expand by 1.3 percent this year, the European Commission said as it unveiled its latest economic forecasts for the bloc.

Speaking on Thursday (5 February) as the Commission published its Winter Forecast, Economics commissioner Pierre Moscovici said that the falling oil price and a weaker euro would provide a “welcome shot in the arm for the EU economy".

The commission believes that the single currency area will grow by 1.9 percent in 2016 “on the back o...

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Author Bio

Benjamin Fox is a seasoned reporter and editor, previously working for fellow Brussels publication Euractiv. His reporting has also been published in the Guardian, the East African, Euractiv, Private Eye and Africa Confidential, among others. He heads up the AU-EU section at EUobserver, based in Nairobi, Kenya.

Falling oils prices 'a welcome shot in the arm' for the eurozone (Photo: ezioman)

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Author Bio

Benjamin Fox is a seasoned reporter and editor, previously working for fellow Brussels publication Euractiv. His reporting has also been published in the Guardian, the East African, Euractiv, Private Eye and Africa Confidential, among others. He heads up the AU-EU section at EUobserver, based in Nairobi, Kenya.

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