By GABRIELE STEINHAUSER and PAN PYLAS
BRUSSELS — The 17-nation eurozone economy will suffer a modest recession this year despite recent signs of stabilization, particularly in financial markets, the European Union’s executive branch said Thursday.
In its latest projections, the European Commission forecast a 0.3 percent contraction in the eurozone economy, with Greece leading the way downward with a massive 4.4 percent decline.
That would be the fifth straight year of recession in Greece, which earlier this week clinched its second massive bailout package in less than two years.
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