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Europe News
OECD sees Europes economy strongOECD sees Europes economy strong The Organisation for Economic Development (OECD), the Paris-based think tank, has raised its forecast for European economic growth for 2006. Europes recovery seems sufficiently robust, the organisation says, to boost eurozone growth to 2.7% in 2006 - up from its May forecast of 2.2%. Growth of that magnitude would justify higher interest rates, OECD chief economist Jean Philippe Cotis said. More : news.bbc.co.uk Related Travel InformationOECD warns of Europe growth riskOECD warns of Europe growth risk Europe is set to suffer most from the unwinding of global economic imbalances if market turmoil continues, the OECD has warned. OECD chief economist Jean-Phillippe Cotis said that a decline in the value of the dollar could damage Europes prospects for recovery. A brutal unfolding of such imbalances would hurt the world economy, with perhaps the largest output losses concentrated in the least resilient regions, not least the euro area, he said. More: news.bbc.co.uk OECD sees economic recovery spreading to Europe, JapanOECD sees economic recovery spreading to Europe, Japan PARIS (AFX) - Global economic growth has remained robust in the face of rising oil prices and the economic recovery is now expected to spread to countries where growth has been weak until recently, the OECD said in its semiannual economic outlook. 'Already strong in North America and most of Asia, economic momentum now looks well established in Japan, and continental Europe is progressively recovering from its latest bout of weakness,' chief economist Jean-Philippe Cotis said. Global growth has been 'exceptionally vigorous', with the most resilient economies weathering the impact of higher oil Europes Russian energy dilemmaEuropes Russian energy dilemma With gas and oil prices hitting new heights and the Middle East teetering on the edge of a widening war, Europe is facing an energy security dilemma. Can it trust Russia as the principal source of its future energy supplies? President Vladimir Putin is sitting on the largest agglomeration of gas reserves in the world, situated in some of its most inhospitable locations, including the Barents Sea, the Yamal peninsula and eastern Siberia. He has made it clear that he sees Russias vast energy resources as a political tool to recover some of his countrys lost British doctors are Europe’s richestBritish doctors are Europe’s richest BRITISH doctors now earn more than their counterparts on the Continent, according to a new study. It has revealed that hospital consultants’ salaries increased by more than 30% between 2000 and 2004. British consultants and GPs are now better off than medical specialists in France, Germany and Denmark. Despite the increases, consultants are asking for a pay rise of 4.5% — almost twice the rate of inflation. Their average annual earnings exceeded £94,000 in 2004. These pay increases were accelerated after consultants agreed changes to their National Health Service contracts two years ago in return for GENEVA AUTO SHOW Renault sees ’mediocre’ 2006 Europe salesGENEVA AUTO SHOW Renault sees 'mediocre' 2006 Europe sales Renault expects 2006 sales in Europe to be 'mediocre', with the European market remaining 'subdued' or possibly even 'shrinking slightly', the company's deputy managing director and director of sales Patrick Blain said at the Geneva Auto Show. The copying, republication or redistribution of AFX News Content,inculding by framing or similar means, is expressly prohibited without the prior written consent of AFX News. Source: forbes.com |
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