The eurozone crisis is not over yet, European Commissioner Olli Rehn has said, in response to figures showing that the eurozone recession has come to end.
Following the publication of the figures on Wednesday, the EU’s Economic and Monetary Affairs Commissioner welcomed the positive data but stressed that “there is still a very long way to go”.
In a post on his blog entitled ‘Recovery is within reach’, the European Commissioner says the positive figures are encouraging but warns that “there is no room for complacency whatsoever”, stressing that “the tentative signs of growth are still fragile”.
The commissioner warns against “premature, self-congratulatory statements suggesting the crisis is over”.
Commenting on the figures provided by the European Statistical Authority, which show that the eurozone has seen a collective growth of 0.3 per cent in the second quarter of 2013, Rehn stresses that “the averages hide important differences between member states”.
Rehn makes special reference to Greece and Spain, noting that both countries still have “unacceptably high unemployment rates, especially for young people, which has created real risks of a lost generation”.
“There is still a very long way to go before we reach our ultimate goal of a sustainable growth model that delivers more jobs,” Rehn says.
The commissioner urges European policymakers to “keep up the pace of economic reform”, concluding that “a sustained recovery is now within reach, but only if we persevere on all fronts of our crisis response”.
Source: EnetEnglish