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| Version 0 | Version 1 |
|---|---|
| Eurozone growth lowered to zero | Eurozone growth lowered to zero |
| (10 minutes later) | |
| The eurozone's economy failed to grow at all in the last three months of 2009, revised figures have shown. | The eurozone's economy failed to grow at all in the last three months of 2009, revised figures have shown. |
| The European Union's statistics office said that the quarter-on-quarter growth in the three months to December had proved to be zero. | The European Union's statistics office said that the quarter-on-quarter growth in the three months to December had proved to be zero. |
| This was revised down from a previously reported 0.1%, according to Eurostat. | This was revised down from a previously reported 0.1%, according to Eurostat. |
| Year-on-year, the economy of the 16 countries using the euro contracted by 2.2%, more than the previously estimated 2.1%. | Year-on-year, the economy of the 16 countries using the euro contracted by 2.2%, more than the previously estimated 2.1%. |
| At the same time, the chief economist of the Organisation for Economic Co-operation and Development, Pier Carlo Padoan, said economic growth in the developed world was likely to slow down in the first half of 2010. | |
| Mr Padoan said Europe's urgent priority was to reduce levels of government debt that had climbed during the financial crisis. This should happen before interest rates started to rise, he added. | |
| "We would not recommend that countries wait for market pressures to take action. If that happens, it means they're too late," he said. | |
| He also said that Greece should do this without further help from the rest of Europe. |