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EU top economy official warns US may 'already be in recession'

The EU's top economic affairs official warned yesterday (17 March) that the US may already be in a recession, but remained bullish about Europe's standing amid the ongoing financial maelstrom.

"The US economy is clearly slowing, perhaps even entering a recession," economic and monetary affairs commissioner Joaquin Almunia said during a dinner speech to a Paris conference on structural reform at the Organisation for Economic Co-operation and Development (OECD).

The commissioner sai...

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