PM of Denmark: Recovery in Europe Could Begin Next Year

• While Europe has already done a great deal to address its debt crisis, much more needs to be done.
• When Europe begins to recover – probably in 2013 – the rest of the world should support the rebound.
• If European countries do not act more swiftly and decisively, the costs of the crisis will be much higher.

Tianjin, People’s Republic of China, 11 September 2012 – While the economic outlook for Europe is bleak for the rest of this year, signs of recovery could appear in 2013, Helle Thorning-Schmidt, Prime Minister of Denmark, told participants in a session on the European debt crisis on the opening day of the World Economic Forum’s Annual Meeting of the New Champions 2012. “It is true that Europe is very challenged and will require structural reforms to regain our form.” She called on investors not to write Europe off. “When Europe shows the first signs of recovery, which we will do next year, the rest of the world should push this movement. It will not just be for the benefit of Europe but also for the world. Invest in Europe; trade more with Europe; believe that Europe will recover.”