(PRWEB UK) 22 February 2013
According to a BBC report, The Eurozone recession will linger long into 2013, the European Commission has said. The latest forecast from the organisation has detailed how many countries within the zone are still overspending including Spain, France and Portugal. Spain’s deficit at 10.2 percent of GDP in 2012, was well above its 6.3 percent target, and will stay high well into 2014.
The Commission Vice-President Olli Rehn said that unemployment across the single currency area is expected to continue to rise to 12.2 percent, adding to further money problems throughout Europe. ‘We must stay the course of reform and avoid any loss of momentum, which could undermine the turnaround in confidence that is underway, delaying the needed upswing in growth and job creation.’
As one of the UK’s most popular comparison sites, Cost.co.uk is concerned about these recent figures that can have a huge impact on Great Britain. A representative explained, ‘if the recession continues to linger in Europe, it will of course have a detrimental effect on Great Britain. The faster other countries begin to turn their finances around, the better for the UK. Petrol prices and food are all affected and suffer price increases, something that the UK really needs to eliminate.’
Cost.co.uk is dedicated to providing the best deals and consumer advice for those looking at finance, insurance, utility and travel.
Based in Essex, Cost.co.uk is one of the UK’s leading price comparison sites. Allowing their online customer’s access to companies offering a range of insurance, financial and travel services, the firm specialise in providing a personal experience. Founded in 2012, the agency has a trusted reputation for sourcing the most ideal policies at affordable prices.