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Europe Daily Bulletin No. 8406

22 February 2003
Contents Publication in full By article 10 / 38
GENERAL NEWS / (eu) eu/economy
Commission believes prolonged Iraq conflict offers no threat of serious recession and opposes relaxation of Pact

Brussels, 21/02/2003 (Agence Europe) - In an internal technical document submitted on Monday evening to Economy and Finance Ministers of the Eurogroup, Commissioner Pedro Solbes' DG judged that war in Iraq could reduce European growth in 2003 and 2004 to 1.5% of GDP (in the case of a prolonged war). However, even the worst-case scenario would not lead to severe recession in Europe. The Commission also indicated that a Member State's expenditure in relation to war in Iraq would be taken into...

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A LOOK BEHIND THE NEWS
THE DAY IN POLITICS
GENERAL NEWS
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