The economic crisis has prompted intense and sustained action by the EU's national governments, the European Central Bank and the Commission. All have been working closely together to support growth and employment, ensure financial stability, and put in place a better governance system for the future.
European Commission Press release Brussels, 30 May 2013 May 2013May 2013 In May the Economic Sentiment Indicator (ESI) picked up again. The indicator's recovery starting in autumn last year had been interrupted by flat developments in March and deteriorations in April.
The Programme aims to address the financial, fiscal and structural challenges facing the economy in a decisive manner and should allow Cyprus to return to a sustainable growth path.
The EU economy is projected to return to growth in the second half of 2013. Annual GDP is forecast to contract by 0.1% in the EU and 0.4% in the euro area this year.