The euro-zone economy will lapse back into recession next year as the impact of the fiscal crisis and weaker global growth take their toll. The prospects for economic growth are typically a little stronger in the rest of Europe although Turkey, Hungary and Denmark may also suffer a drop economic activity next year and the risks of recession in the UK are rising rapidly. At the other end of the spectrum, economic growth in Norway, Poland and Russia should hold up comparatively well. However, wWith occupier market fundamentals softening again, property markets should at least receive some offsetting support from a protracted period of low interest rates and bond yields.