The recession has covered the main creditor Russia

The global economy rules igry17-11-2008 recession has covered the lender of Russia, the situation in the European economy is deteriorating day by day, and, as experts say, in a short time you should not expect a change for the better. Undoubtedly, this turn of events does not better reflected in Russia, for which Europe has been one of the major markets for petroleum products. The eurozone is experiencing its first recession since the introduction of the single European currency in 1999, and, according to Western experts, the negative trends in the region's economy will continue over the coming quarters. And a classic recession, which refers to reduction in the production of real national product, lasts six months or more. The economic downturn makes the European authorities to do everything possible to limit its depth. European Central Bank (ECB) is likely to continue cutting interest rates in December, Governments are developing incentive programs. But their efforts may be too late, and recovery in Europe will start much later than in the U.S., analysts fear.