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Europe Daily Bulletin No. 8438

8 April 2003
GENERAL NEWS / (eu) eu/eurogroup
Unlike Eurogroup, Mr Solbes does not rule out economic slowdown or recession if conflict in Iraq prolonged - gloomy outlook for budgetary situation in France

Athens, 07/04/2003 (Agence Europe) - If there is a prolonged conflict in Iraq, a slowdown or even recession in the Zone cannot be ruled out, Commissioner Pedro Solbes admitted on Friday evening in Athens, in his speech to the Economy and Finance Ministers of the Euro-Zone, prior to the adoption of the Spring forecasts (see later). This view is not shared by Nikos Christodoulakis, President of the Eurogroup, who prefers to stick to the Commission's more optimistic scenario forecasting growth...

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