Economists Slash Outlook for Battered Euro Zone Nations

The fortunes of the euro zone's most vulnerable economies have darkened markedly since June, according to a Reuters poll of economists that showed Spain will apply for an EU bailout within months.

Forecasters polled this week slashed their 2013 economic outlook for Greece, Portugal and Spain, and said they will all fail to achieve budget deficit targets agreed with the European Commission.

Among the struggling euro zone peripheral economies, only Ireland looks on course for a return to modest growth any time soon.

While the survey pointed to a reduced likelihood depression-mired Greece will exit the euro zone soon, it also underlined why Spain is the new focal point of the bloc's sovereign debt (explain this) crisis.

Its economic woes — with spiraling unemployment (explain this) topping the list — have further to run.

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- Posted: 2012-08-10 15:17:15

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