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25 million further job loses are expected by 2010 in the OECD area according to a report out Tuesday (Photo: European Commission)

Wave of economic bad news hits Europe

A wave of economic bad news buffeted Europe on Monday (30 March), with European Central Bank president Jean-Claude Trichet saying he expected falling growth in each quarter of 2009.

"Latest information suggests economic activity has deteriorated further in the first quarter of 2009. Looking ahead, we expect demand to remain very weak throughout 2009, both at the global level and in the euro area," Mr Trichet told MEPs in Brussels.

A gradual recovery is now not predicted before 2...

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25 million further job loses are expected by 2010 in the OECD area according to a report out Tuesday (Photo: European Commission)

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