Bloomberg News

EU’s Rehn Says Europe Is in Recession, ‘Excess’ Debt No Option

February 09, 2012

Feb. 9 (Bloomberg) -- European Union Economic and Monetary Affairs Commissioner Olli Rehn said the region has entered a recession and its long-term growth prospects have weakened.

“Taking on excess debt is no option,” Rehn said on a video shown at a Helsinki event today. Even so, “esteemed economists say stimulus is the only chance” for the euro area, he said.

To contact the reporter on this story: Kasper Viita in Helsinki at kviita1@bloomberg.net

To contact the editor responsible for this story: Kati Pohjanpalo at kpohjanpalo@bloomberg.net


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