Euro Zone

It will be years before the euro zones peripheral economiesGreece, Ireland, Portugal and Spainrecover strongly from recession or weak growth, high unemployment and raging budget deficits, a Reuters poll showed on Thursday.The survey of around 30 economists, taken over the past week, painted a bleak outlook for the debt-ridden states.Growth forecasts for next year and 2013 were slashed as unemployment rates across the four countries showed little sign of falling to around the bloc average until 2014 at the earliest.In many cases, the Reuters consensus is far below official government forecasts for growth. Ireland and Spain are expected to fare best of the four countries in 2012, with 0.7 per cent growth, and nothing at all for Madrid.
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