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Europe Daily Bulletin No. 8496

3 July 2003
GENERAL NEWS / (eu) eu/emu
Lasty quarterly report on Euro zone cites sluggish growth and excessive increase in public deficits

Brussels, 02/07/2003 (Agence Europe) - According to the latest Quarterly Report on the Euro Area adopted on Wednesday by the European Commission, growth was stagnant in the first quarter of this year and remained "sluggish" in the second and there is little chance of recovery this summer. The Commission is expecting a modest rebound of activity in the second half of 2003. The report also includes a mid term review of fiscal policy and shows that in a number of Member States in the Euro Area....

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