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The eurozone has recovered quicker than expected but the oil price slump and a US rate rise could dampen the global economy, the World Bank warns. (Photo: World Bank Photo Collection)

EU recovery strengthening despite global decline, World Bank forecasts

The outlook for the European economy has improved despite the looming threat of Greece being forced out of the eurozone, according to a new report by the World Bank.

However, the bloc’s periphery countries continue to be affected by the ongoing war in Ukraine, and the EU’s resultant trade sanctions battle with Russia, which has plunged both countries into severe recessions.

Published on Wednesday night (10 June), the World Bank’s bi-annual Global Economic Prospects report expects ...

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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.

The eurozone has recovered quicker than expected but the oil price slump and a US rate rise could dampen the global economy, the World Bank warns. (Photo: World Bank Photo Collection)

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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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