In Austria

This context of fragility makes not likely to think about a sustainable recovery in the value of the euro. As to the situation of the economy of the eurozone is concerned, the macroeconomic variables show a continuing deterioration. This has caused the economic confidence in the eurozone continue falling into a tailspin and its indicator is already located at 65.4 points, its lowest level since it began to be measured in 1985. The economies of the region have experienced a strong contraction of your product during the fourth quarter of 2008, but the prospects are even worse for 2009. Most of the projections anticipate a contraction of GDP for the eurozone that could exceed 2%. The weakness in external demand has been one of the determinants of the contraction of the economy in the eurozone. This weakness of the external front is reflected in the current account of the region who lost her position surplus and in 2008 closed with a deficit of 0.7% in terms of GDP. But not only the economies of the eurozone are affected by macroeconomic weakness, also are threatened by the situation which pass through the economies of Eastern Europe that can heavily influence the region.

In Austria, Hungary and Romania, the fiscal situation and the State of health of the banking system are fragile. From the major economies of the eurozone, has been guaranteed aid to avoid a crisis situation. It is not that Germany and France are countries so solidarity in these times think help the weaker economies only out of charity, but a possible collapse of them may imply a negative impact that ahondaria the recessive situation of the economies of the eurozone with them that there are close linkages (mainly by the financial sector). In this negative context, hope for the euro comes from us what can be done.

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