ECONOMICS COMMENTARY
Feb 22, 2013
European Commission sees eurozone contraction in 2013
A downward revision to the European Commission's economic growth forecasts for the eurozone suggest that governments will be given more time to reduce budget deficits without implementing harsher austerity measures, while at the same time putting more pressure on the European Central Bank to provide a further boost of stimulus, perhaps via a cut in its main policy rate.
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