Italy, Spain, Greece and Portugal in 2012 and 2013. expects the economic recession, the report said the international rating agency Moody's.

In its forecasts, analysts cited by the statistical agency Eurostat, which is Aug. 14 published a report on gross domestic product (GDP) in the euro area for the II quarter of 2012. During this period, the indicator fell by 0.2% qoq. The most unfavorable dynamics demonstrated southern countries (Italy, Spain, Greece and Portugal). In particular, Greece's GDP for the quarter decreased by 6.2% compared with the same period a year earlier.

Thus, the recession in these countries will continue throughout this year and next, the experts of the agency. While Greece expects GDP decline in the amount of 7.0% to 8.0% in 2012. and 2.0 to 3.0% in 2013. Less than significant levels projected recession in Portugal (from 3.0% to 4.0% in 2012., And from 0.5 to 1.5% in 2013.), Italy (1.5% to 2.5% in 2012 . and from 0.5% to 0.0% in 2013.) and Spain (1.5% to 2.0% in 2012., and from 0.5% to 1.5% in 2013.).

In turn, in Germany and Austria is expected to remain positive trend recorded in the last quarter, experts predict Moody's. Both countries are expected to increase GDP by between 0.5% to 1.0% in 2012. and from 1.0% to 1.5% in 2013.

Meanwhile, on the eve reported that Greece's budget to cover the cost of the next two years will require not 11.5 and 14 billion euros. This is the conclusion reached by experts so-called Big Three - the IMF, EU and ECB. Currently, European leaders are looking for how to allocate Greece more money without creating a new aid package. The prospect of transfer to the account of Athens' new sums not enthusiastic about the EU. Thus, German Finance Minister Wolfgang Schaeuble called the Balkan country "a bottomless pit," throwing money which becomes pointless.