Brussels, 15/09/2011 (Agence Europe) - The European Commission has, for now, ruled out the spectre of a recession in the EU but, on Thursday 15 September, it did significantly revise its growth forecasts downwards for the second half of 2011 due to the impact of the debt crisis.
Olli Rehn, Commissioner for Economic and Financial Affairs, declared: “These economic forecasts are much more gloomy than those made last spring and growth is tending to fall. Inflation is expected to stabilise...