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Plenty of time to read the papers as unemployment in Spain reaches 14.8 percent (Photo: EUobserver)

Weak economic data ups pressure for ECB rate cut

The European Central Bank (ECB) is expected to cut interest rates when its governing council meets on Thursday (5 March) following the release of more weak economic data on the European economy.

New figures released by the EU's statistics office, Eurostat, last Friday show unemployment in the 16-country euro area has reached 8.2 percent, the highest level for two years, following the loss of over a quarter of a million jobs in January.

"Unemployment is a clear concern right now ...

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Plenty of time to read the papers as unemployment in Spain reaches 14.8 percent (Photo: EUobserver)

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