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EC head says recession over, but the crisis lingers

Joblessness serious, but 2014 to be 'year of positive change'

14 January, 10:35
EC head says recession over, but the crisis lingers (ANSA) - Strasbourg, January 14 - The recession in parts of Europe may be over but major problems including high unemployment linger, European Commission President José Manuel Barroso said Tuesday. "The recession is behind us, but there is no room for complacency," Barroso said in comments to the European Parliament in Strasbourg.

Because the jobless rate remains too high in Europe, and small- and mid-sized businesses cannot find money to invest to grow, the economic crisis lingers, he said.

But there is still room for hope if nations work together, he added.

"I am sure that 2014 will be a year of positive change for the European economy," he said.

"We will work together to make this happen as soon as possible". Unemployment in Italy touched new record highs in November, Italian statistical agency Istat said in its most recent jobs report.

Overall unemployment reached 12.7% while youth unemployment hit 41.6%.

Both figures are the highest on record since the current calculation method began in 1977.

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