Europe

Portugal ^New
Having always been a quiet performer in Europe, Portugal found itself unexpectedly thrust into the spotlight this year when attention was drawn to its budget deficit, which climbed to 9.4% in 2009. But with 382.5 tons of gold in its coffers, does Portugal have a safety net?

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Europe ^New
Economic sentiment in the Euro-zone posted a surprise increase in June after tumbling in May on renewed optimism about economic recovery and receding unemployment fears.While economic recovery remains tenuous, unemployment has remained steady at 10%,lifting hopes.
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Turkey ^New
Turkey, with a history dating back to the dawn of civilization, has been making giant strides in transforming its economy. Despite being hit hard by the recession, the country has bounced back fast and is all set to become a member of the European Union.
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Italy ^Updated
The Euro-zone’s third largest economy emerged from its worst recession in over six decades in the third quarter of 2009. Italy experienced five consecutive quarters of contraction, witnessing a massive 4.8% decline for the year 2009 as a whole.
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France ^Updated
One of the first countries in the Euro-zone to exit the recession, the French economy bounced back to growth in the second quarter of 2009. A recovery in exports as well as strong domestic consumption powered this resurgence after four consecutive quarters of contraction.
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United Kingdom ^Updated
After remaining in the firm grip of recession for six consecutive quarters, the worst in the last 70 years, the U.K finally reverted to growth in the last quarter of 2009 at a higher than expected quarterly growth rate of 0.4%.
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Spain ^Updated
Contracting by about 3.6% in 2009, the Spanish economy has been one of the hardest hit by the global financial crisis. While it narrowly managed to scrape out of the recession in the first quarter of 2010, recording a marginal growth of 0.1%, the economy is expected to remain on a weak footing for quite some time.
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Germany ^Updated
Leading recovery in the Euro-zone, Germany emerged from the recession in the second quarter of 2009 after experiencing four quarters of contraction. With this, Euro-zone’s growth driver, has exited its worst recession in the post-World War II era.
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Poland ^Updated
Poland was the only EU member technically not in recession when it clocked a growth rate of 1.5% in 2009. Though the country received a body blow when its president and top military brass perished in a plane crash recently, political stability and commitment to implement economic reforms would help it emerge as a formidable player.
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Russia ^Updated
The Russian economy, fast emerging from the recession, still has to tackle the same old issues of high inflation, bad investment climate, and excessive dependence on oil. Improving ties with Ukraine and the country’s bid for WTO membership are the recent positive developments.
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