22/01/2008 (Agence Europe) - Market fear recession in the United States, not the world, and current turbulence is largely attributable to twin deficits in the US, said Economic and Monetary Affairs Commissioner Joaquin Almunia on Tuesday 22 January. The current account deficit and the public deficit in the United States, as they grew, were the cause of the turbulence that we have been experiencing since summer 2007, he said after the Ecofin Council. “This is not the only reason, but it is...