Stock Groups

Russia’s move against Ukraine makes 2022 euro zone growth more uncertain -Commission -Breaking

by Mike Robinson

[ad_1]

© Reuters. FILE PHOTO: European Commissioner for Economics Paolo Gentiloni addresses a meeting of Euro zone finance ministers in Brussels on January 17, 2022. REUTERS/Yves Herman

BRUSSELS (Reuters). – Russia’s acknowledgement of Ukraine’s independence makes the European Commission’s already low euro zone growth forecasts for 2022, European Economic Commissar Paolo Gentiloni stated on Tuesday.

Gentiloni spoke at an economic conference and stated that there is still uncertainty. He added, “The violation by international law due to Russian recognition of the two Ukrainian separatist territories will significantly increase this uncertainty.”

Russian President Vladimir Putin recognized two separatist regions of eastern Ukraine Monday. This increased Western concerns about a possible new conflict in Europe. Moscow’s action will bring about EU sanctions and Russia may respond with anti-sanctions.

The European Commission reduced its growth projections for 19 euro-zone countries to 4.0% from 4.3% on February 10, citing an increase in COVID-19 infection, higher energy prices, and ongoing supply-side disruptions.

Disclaimer: Fusion MediaWe remind you that this site does not contain accurate or real-time data. CFDs are stocks, indexes or futures. The prices of Forex and CFDs are not supplied by exchanges. They are instead provided by market makers. As such, the prices might not reflect market values and could be incorrect. Fusion Media does not accept any liability for trade losses you may incur due to the use of these data.

Fusion MediaFusion Media or any other person involved in the website will not be held responsible for any loss or damage resulting from reliance on this information, including charts, buy/sell signals, and data. You should be aware of all the potential risks and expenses associated with trading in the financial market. It is among the most dangerous investment types.

[ad_2]