EUobserver: Eurostat experience highlights doubts over Greek data - by Andrew Willis

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Eurostat experience highlights doubts over Greek data - by Andrew Willis

New figures released by the EU's statistics office – Eurostat – on Thursday (22 October), provide fresh information on EU government debt levels for 2008, but also point towards Greek political manipulation of the country's economic data. According to the new figures, average EU27 budget levels for 2008 were –2.3 percent of GDP, a rise from –0.8 percent in 2007. But the figures come with the following caveat: "Eurostat has expressed a reservation on the data reported by Greece due to significant uncertainties over the figures notified by the Greek statistical authorities."

Forbes.com: "the fantasy continues" European stocks, Wall Street gain on US GDP Data - by Louisa Watt

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"the fantasy continues)" European stocks, Wall Street gain on US GDP Data - by Louisa Wat

The U.S. government report delivered the strongest signal yet that the economy entered a new, though fragile, phase of recovery and that the worst recession since the 1930s has ended. In afternoon trading in Europe, Germany's DAX jumped 1 percent to 5,551.94, Britain's FTSE 100 added 0.6 percent to 5,110.80, and France's CAC 40 climbed 1.1 percent to 3,703.90.

In a separate report, official data showed workers filing for jobless claims for the first time fell slightly less than expected last week, evidence that the labor market remains weak even as the economy is recovering.

Note EU-Digest: Whoever says that the recession has ended based on these results must be dreaming. Where are the real figures about employment and new job creation?

EU-Digest: The State of Global Economy

For your copy of the EU-Digest special report on The State of Global Economy click on this link

The State of the Global Economy

Where is the silver lining of the Global Economy? Who are the winners and the losers? Will energy prices go lower? Has the real estate market bottomed out? What will happen to the dollar and the EURO? Where to go from here? What about the Asian, European and Latin American economic prospects? Will the outcome of the US Presidential election influence the global economy? <>p> Get the EU-Digest special report on the state of the US and Global Economy, a compilation of reports collected during the past months from world press resources, at http://www.eu-digest.com/specialreports

EU-Digest Special Reports: The State of the Global Economy

For your copy of the EU-Digest special report on The State of Global Economy click on this link

The State of the Global Economy

Where is the silver lining of the Global Economy? Who are the winners and the losers? Will energy prices go lower? Has the real estate market bottomed out? What will happen to the dollar and the EURO? Where to go from here? What about the Asian, European and Latin American economic prospects? Will the outcome of the US Presidential election influence the global economy? <>p> Get the EU-Digest special report on the state of the US and Global Economy, a compilation of reports collected during the past months from world press resources, at http://www.eu-digest.com/specialreports