Eurostat index reflects pessimism regarding economic situation

 The monthly Eurostat index on the economy reflects the pessimism, which prevails among businesspeople and consumers in the European Union member states.

According to Eurostat data, the basic index reflecting the confidence on the economy reached in March 64.3 points in the EU states and 60.3 in the Eurozone members, compared to 60.9 and 65.3 in February respectively.

Cyprus’ index reached 55 points in March, losing 11.4 points in comparison to February.

The most negative climate in the Eurozone was recorded in Greece.

Greece had the second worst index in the EU after Hungary with 43.1 points, compared to 47.2 in February.

EU Commissioner responsible for Economic and Monetary Affairs Joaquin Almunia referred to the crisis and its serious impact on employment in the coming months.

In an interview with the German «Welt am Sonntag» Almunia said “we will feel the social impact of the economic crisis with great intensity and the unemployment being dramatically increased in the summer”.

He added that in the fourth trimester of 2008, 670.000 Europeans lost their jobs, while in 2010 the situation will worsen even more.

“One in ten employees will lose their jobs,” the EU Commissioner noted.