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IPFS News Link • Economy - International

Euro zone headed for recession, report says

• Washington Post
Countries that use the euro are headed for a mild recession this year, the European Commission said Thursday, the region’s second economic contraction since 2008, despite years of attempts to solidify the euro zone’s economic standing.

The announcement was more pessimistic than a November estimate that predicted slight growth in 2012. And it came days after European officials agreed to hand Greece a $172 billion bailout, its second in two years.