Europe is slowly emerging from one of the deepest recessions on record with the European Commission predicting positive growth in the third quarter of 2009. The third issue for 2009 includes: current macroeconomic trends and prospects; an overview of ERM statistics for July-September 2009;...

The EU emerged from recession in the third quarter of 2009 but growth remains anaemic ( 0.3%, EU27) and well below trend rates. Unemployment notably continues to rise and its pace of increase has accelerated in the most recent quarter to reach the highest levels in over a decade (9.5%, EU27)....