The World Bank has cut its global growth outlook for 2013 from 3% to 2.4%, compared to 2.3% growth in 2012. “A frustratingly slow economic recovery in developed nations is holding back the global economy, the World Bank said” (Reuters)
Spain calls for Germany to stimulate: Mariano Rajoy has called on Germany and other creditor countries in the eurozone to do more to stimulate growth, arguing that a switch to a more expansionary policy would boost economic recovery across the single currency area. “What is clear is that you cannot ask Spain to adopt expansionary policies at this time. But those countries that can, should,” he told the FT. (Financial Times)
