Recent financial turmoil, the US economic slowdown and soaring oil prices are taking their toll on the EU economy, cutting growth forecasts and upping inflation, according to the European Commission.
On Friday (9 November), economic affairs commissioner Joaquin Almunia presented the commission's economic forecasts for 2007 and the coming two years.
While Mr Almunia generally spoke in a positive tone about the EU economy, he stressed that several problems were dragging down the eco...
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