Joblessness in the euro zone is
set to peak at 12.2 percent, or more than 19 million people, in 2013, the
Commission said, and both private and public consumption will not make any
contribution to improving output, instead dragging on the economy.
The outlook raises the prospect
of further interest rate cuts by the ECB to jump-start the economy by reducing
the cost of lending for companies and families, although with banks reluctant
to lend, any impact may be muted.
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