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Europe Daily Bulletin No. 8713

27 May 2004
GENERAL NEWS / (eu) eu/energy
Rates continue to rise for crude oil threatening European and world economy, Ms de Palacio warns

Brussels, 26/05/2004 (Agence Europe) - The sharp rise in crude oil prices on world markets could make the euro zone lose several tenths in growth points and threaten the recovery of the world economy, Loyola de Palacio, Energy Commissioner, warned on Wednesday when speaking to the press. In a memorandum for information presented to the College on Wednesday morning, Ms de Palacio noted that a 25% rise in oil prices in 2004 is likely to entail a reduction in economic growth in the euro zone by...

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