Brussels, 09/11/2007 (Agence Europe) - While economic growth appears to be continuing strongly in 2007 (2.9% in the EU and 2.6% in the euro area), current uncertainty could impact on medium-term performance, says BUSINESSEUROPE in its economic outlook published on 8 November. While cautiously optimistic, the European employers' organisation expects growth to soften more rapidly than previously expected. With doubt surrounding the impact and duration of the current financial turbulence, it nevertheless still expects a GDP rise of 2.4% in the EU27 and 2.1% in the euro area for next year. To restore confidence in money markets and avoid a tightening of credit conditions, it is essential that commercial banks show total transparency, by clearly stating the level of risk they run and the losses incurred. Business confidence has fallen, BUSINESSEUROPE says, too, and it puts exchange rates and finance conditions at the top of the list of its members' concerns. With inflationary pressures seemingly contained (23.1% in 2008 in the euro area), it calls on the ECB to remain open and pragmatic with regard to its monetary policy in the euro area. No further tightening of monetary conditions was expected in the near future, the organisation said, and it called on member states to continue their reforms. More information is available at: http://www.businesseurope.eu/Content/Default.asp?PageID=420 (A.B.)